Cement News tagged under: India

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Coal India notifies coal e-auction

22 June 2018, Published under Cement News

India’s cement producers, along with other sectors such as the captive power industry, will be able to take part in the fourth auction round of coal linkages, Coal India Ltd (CIL) announced. Some 57Mt of coal were put on offer in the three previous rounds that have taken place since June 2016. The auction is conducted by MSTC Ltd. The entire process of allocating linkages in this way is the result of a decision taken by the India’s Cabinet Committee on Economic Affairs two years ago. The...

Kerala records INR40 price hike

19 June 2018, Published under Cement News

A INR40 (US$0.59) price hike in Kerala, India, over the past week has been blamed on cement companies and the state’s failure to organise a price regulatory body, according to The Hindu. The price has increased from INR355-360/bag to INR395-400/bag. While cement sales in the state usually record a 20 per cent dip in monsoon season, this price increase has negatively affected the cement suppliers. "Apart from the consumers, we too are badly affected. Dealers are struggling to pay wages...

ACC expects Indian demand to increase by 7% in 2018

18 June 2018, Published under Cement News

India’s ACC expects the country’s cement demands to grow by seven per cent this year, assisted by infrastructure projects and the continued focus on rural development and affordable housing schemes. However, intense competition and insufficient consumption will lead to excess capacity, according to the producer. "The cement industry had a growth of six per cent in 2017 as against 5.1 per cent in the previous year. Around 66 per cent of its demand came from the housing sector, followed ...

My Home Industries considers 50% capacity expansion

13 June 2018, Published under Cement News

India-based My Home Industries is considering a capacity expansion of up to 50 per cent over the next four years, according to the Business Line. The company has announced that its awaiting clearance from the board for the expansion, which would see it increase capacity to 15Mta from 10Mta. "Investment and location for expansion will be decided when we finalise the plans. We have the opportunity to expand in our existing locations also," said Vijay Vardhan Rao, marketing president, My Home...

Sagar Cements commissions capacity expansion

13 June 2018, Published under Cement News

India's Sagar Cements Ltd has commissioned a capacity expansion at its grinding unit in Anakapally district, Andhra Pradesh, raising capacity to 1.5Mta from 0.3Mta. While the expansion scheduled to become operational by 31 December 2018, the facility was commissioned ahead of time on 10 June.

Shree Cement announces investment plans

11 June 2018, Published under Cement News

India’s Shree Cement Ltd has announced a INR35bn (US$519.79m) capital expenditure budget for the current financial year. The amount includes INR20bn which will be spent to conclude the acquisition of UAE-based United Cement Co PSC by July, a few months ahead of plans, according to Subhash Jajoo, CFO, Shree Cement. Furthermore, the company plans to invest INR13-14bn to set up grinding units in Odisha, Jharkhand and West Bengal. Once completed, these plans would see the company raise its prod...

Panyam Cement & Mineral Industries reports decline in net sales

08 June 2018, Published under Cement News

Panyam Cements & Mineral Industries, India, has reported financial results for the period ended 31 March 2018 with net sales of INR26.49m (US$0.391m) during the 12-month period ended 31 March 2018 as compared to INR65.03m (US$0.96m) during the corresponding period ended 31 March 2017. The company has posted net loss of INR23.41m for the period under review as against INR4.09m for the period ended 31 March 2017.

 The company has reported net sales of INR190.38m during the 12months ended 31...

Bangladesh cement exports rise by 24% in 11MFY17-18

07 June 2018, Published under Cement News

Bangladesh's cement industry export revenues saw a growth of 24.01 per cent during the first 11 months of FY17-18 (July 2017-May 2018), says data released by Export Promotion Bureau (EPB).   The country exported cement and other materials worth of US$11.88m during the 11MFY17-18, compared to US$9.58m earned in the year-ago corresponding months. This represent a growth of over 24 per cent in exports YoY with India being the main destination for cement exports.   The export figure also incl...

Orient Cement announces expansion plans

06 June 2018, Published under Cement News

India’s Orient Cement has announced plans to invest INR36bn (US$536.8m) over the next five years to expand its existing production capacity to 15Mta from 8Mta, with investments for the expansion to begin in FY20, according to Mint. The company has applied for environmental clearance to expand clinker and grinding capacity in Devapur, Telangana, and Chittapur, Karnataka, alongside plans to construct additional grinding capacity in the eastern market. The expansion plans are expected to be co...

Indian cement sector receives new investment

04 June 2018, Published under Cement News

The Indian cement sector is receiving fresh investment as capacity utilisation rates increase, with at least six companies at various stages of announcing or implementing expansion plans, according to the Business Standard. Dalmia Bharat has recently announced plans for 8Mta of new capacity in Odisha, eastern India, at an investment cost of INR37.2bn (US$554.7m). "Looking at the demand for our premium products, we decided to add capacity and strengthen our leadership in east India. For...