Cement News tagged under: CAPEX

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UltraTech Cement's 19.5Mta capacity projects start civil work

11 May 2021, Published under Cement News

UltraTech Cement has placed most of the equipment orders and has seen the start of civil work at the sites of its capacity expansion projects, according to a company update. Earlier the company had approved capacity expansion plans of 19.5Mta through a mix of brownfield and greenfield expansion, covering five integrated cement plants and 12 grinding units. The additional capacity is being created in the fast-growing markets of the east, central and north regions of the country. ...

Ramco Cements aims to be debt-free in three years

14 August 2020, Published under Cement News

India’s Ramco Cements has announced plans to become debt-free in three years, while noting that FY20-21 will be a challenging year for the company. "While the initial few months were impacted by COVID-19 related lockdown, the remaining months would see slower pick up as majority of Government spending gets channelised towards healthcare and supporting weaker sections of society," said A V Dharmakrishnan, CEO. "Our priorities will be to efficiently market products and to become a debt-free ...

Solusi Bangun Indonesia reviews its capex after challenging 2Q20

10 July 2020, Published under Cement News

Semen Indonesia-owned Solusi Bangun Indonesia (SBI) is reviewing its capital expenditure plans for 2020 due to the coronavirus pandemic, according to Bisnis. "The current conditions are still very dynamic, which depends on the corona virus which is still ongoing. Many government projects, such as from the Ministry of Public Works and Public Housing (PUPR), have not been running because of it " the company’s President Director, Aulia Mulki Oemar, said. While the company had prepared a IDR50...

UltraTech Cement reduces capex plans to INR10bn in FY20-21

05 June 2020, Published under Cement News

India’s UltraTech Cement has announced that it will be restricting its capital expenditure plans to INR10bn (US$132.42m) during the current fiscal year, following the disruptions caused by the COVID-19 pandemic. "The company's capital and financial resources remain entirely protected in spite of the adverse impact on its sales during the first two phases of the lockdown. The company's liquidity position remains adequately covered," said the company in a regulatory filing. "Conserving cash ...

The India Cements Ltd may put capex plans on hold

12 November 2019, Published under Cement News

The India Cements Ltd said it may need to put its capital expenditure plans on the backburner if the current economic slowdown persists, reports The Times of India. "We may hold back capital expenditure," said N Srinivasan, The India Cements Ltd’s vice chairman and MD. "I want to expand. I want to go there (Madhya Pradesh). But, I want to be sure before I go there," he added. The southern Indian-based cement producer’s plans include a greenfield cement plant in Madhya Pradesh and a grindi...

Holcim Philippines to raise capacity to 13Mta by 2020

03 December 2018, Published under Cement News

Holcim Philippines (LafargeHolcim group) is investing US$300m to raise its cement capacity in the country by 30 per cent to 13Mta by 2020. Holcim Philippines informed the Philippine stock exchange that will upgrade its facilities in Bulacan and Misamis Oriental with the installation of new and efficient kilns and mills and waste heat recovery systems as part of its cost focus. "Our company believes in the sustained development of the Philippines. This investment is proof of our confidence...

Aditya Birla Group announces US$5bn capex plan

29 October 2018, Published under Cement News

India's Aditya Birla Group, parent of UltraTech Cement, has announced US$5bn capex plans over the next three years for its businesses both in the domestic market and abroad. "Our capex plans over the next three years is about US$5bn across our businesses both in the country as well as in the US. Aleris, which Novelis is acquiring, is also another aluminium rolled product player, will attract around US$3bn of this projected capex," said Kumar Mangalam Birla, group chairman, at The Economist...

India: ACC Cement announces capex plan of INR6bn for 2017

30 March 2017, Published under Cement News

ACC Cement have announced a capital expenditure plan of INR6bn (US$92.4m) for the coming financial year, CEO and Managing Director, Neeraj Akhoury, said at the company's annual general meeting. Mr Akhoury said the outlay will be used for various projects. The company reported a profit of INR6.04bn for the year ending 31 December 2016, up from INR5.87bn in 2015 and registering a growth in profit of 2.9 per cent. Revenue stood at INR11.27bn, down by 5.39 per cent since last year at INR11.91...

Saudi Arabia: changing times?

14 November 2016, Published under Cement News

The 2017 outlook for the Saudi Arabian cement sector remains neutral unless the government continues its spending spree. But as the subdued oil price environment calls for a more-diversified economy and spending cuts to rein in costs, cement demand in the kingdom could be in for a gloomy ride in the medium term. By Santhosh Balakrishnan, Riyad Capital, Saudi Arabia. As oil prices remain subdued, Saudi Arabia may need to rein in its construction ambitions  The Kingdom of Saudi Ar...

PPC

27 September 2016, Published under Cement News

At a presentation at the RMB Morgan Stanley Big Five conference in Cape Town on 26 September, PPC outlined how despite group cement sales volumes advancing by seven per cent in the first five months of FY2017, significant pressure on selling prices in the inland region saw prices fall by five per cent in the South African cement business. As a result, overall margins are under pressure despite good cost control and exchange rate gains, according to PPC. Over the same period, Rwanda saw vo...