Cement News tagged under: India

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Rise in India's cement prices falters

18 June 2019, Published under Cement News

Cement price rises in India, which started in India, have started to reverse, according to LiveMint. In June average prices fell to INR361 (US$5.17)/50kg bag, down by INR7, according to Kotak Institutional Equities Ltd. Price reductions were mainly led by southern and western Indian companies, which reduced prices by INR8-11/bag MoM. The fall in prices can be attributed to a drop in demand in June. While in April volumes increased one per cent YoY to 28.7Mt, throughout the April-June q...

UltraTech Cement appoints Sujeet Jain as chief legal officer

18 June 2019, Published under Cement News

Sujeet Jain, group general counsel and company secretary of Viacom18, has joined UltraTech Cement as chief legal officer in Mumbai. A graduate of GLC Mumbai, he began his career at Thakkar and Thakkar Advocates before moving to Hutchison Telecom. In 2005 he joined People Group and three years later, Viacom 2008.

UltraTech Cement receives approval for 6Mta plant project

11 June 2019, Published under Cement News

India’s UltraTech Cement has received environmental approval to set up a INR25bn (US$360.37m) project in Petnikota village, Andhra Pradesh. The integrated facility is expected to have a clinker capacity of 4Mta and 6Mta of cement. Alongside the cement works, the company also plans to install a 60MW captive power plant and 15MW waste heat recovery unit. It has already acquired 431.92ha of land but still requires ‘consent to establish and operate’ from the state’s pollution control board, ac...

Gujarat launches pilot air pollutant permit cap and exchange mechanism

07 June 2019, Published under Cement News

India has launched the world's first trading programme for particulate air pollution quotas. The western state of Gujarat piloted the scheme on 5 June involving some 350 industrial plants in Surat, including cement plants. The trading programme has been devised by academic experts, including Anat Sudarshan from the University of Chicago and Nicholas Ryan from Yale University. The government will cap the total amount of air particulate matter than can be emitted over a period of time by all ...

Sagar Cements reports rise in cement production for May

07 June 2019, Published under Cement News

India’s Sagar Cements has reported a 12.9 per cent YoY rise in consolidated cement production in May 2019, increasing to 277,146t from 245,454t in the year-ago period. Standalone production advanced 9.2 per cent to 201,241t, compared with 184,278t in May 2018. Meanwhile, sales climbed 13.3 per cent YoY to 275,330t in May 2019.

Calcar Products to begin work on new grinding unit

06 June 2019, Published under Cement News

India's Calcar Products is expecting to begin Phase I of its new cement grinding unit project this month. The facility will be set up in two phases at Bhupdeopur village of Raigarh district, Chhattisgarh, with each phase representing 0.33Mta of cement capacity. Th estimated investment cost for Phase I is INR420m (US$6.06m) and INR330m for Phase II. The project is due for completion in the first half of 2020.

Penna Cement secures approval for IPO

04 June 2019, Published under Cement News

India’s Penna Cement Industries Ltd has received approval from the Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). The company’s proposed IPO size is INR15.5bn (US$223.7m), with the offer comprising of fresh shares worth INR13bn and INR2.5bn of shares from the promoter, PR Cement Holdings Ltd. The company is expected to use INR10bn of the fresh net proceeds to repay or make advance payment of its debt besides using an undisclosed amount towards gene...

Emami Cement looks to expand limestone mining capacity

04 June 2019, Published under Cement News

India’s Emami Cement Ltd has announced plans to expand its limestone mining capacity from 5.5Mta to 9Mta at its operations in Kukurdih of Raipur district, Chhattisgarh. The project is expected to be spread over 395ha of land and represent an investment of INR10bn (US$144.35m). While environmental clearance is currently being awaited, work on the expansion is projected to begin by May 2020.

BAI calls for regulatory authority to investigate cement price hikes

03 June 2019, Published under Cement News

Mr V Sivarajan, president of the Builders' Association of India (BAI)'s Coimbatore branch, has hit out against recent price rises established by India's cement sector. The retail price of a 50kg bag of cement was INR270 (US$3.88) two months ago but now it is INR400 (US$5.76). "The prices of raw materials, transport or labour did not go up for the cement industry," Mr Sivarajan said. "So there is no reason for the price rise." Mr Sivarajan announced that the BAI would appeal to the Union ...

Sri Chakra Cement closes FY18-19 with INR55.9m net loss

03 June 2019, Published under Cement News

Sri Chakra Cement reported a net loss of INR35.8m (US$515,506) in the quarter ended March 2019 compared to a net profit of INR16.9m in the year-ago quarter. The company’s sales increased 65.5 per cent to INR498.2m in January-March 2019. In the first three months of 2018 it achieved sales of INR301.1m. For the full FY18-19 a net loss of INR55.9m was reported (FY17-18: net profit of INR1.2m). Sales advanced 1.7 per cent to INR1.882bn in FY18-19, up from INR1.85bn in the previous year.