Cement News tagged under: India

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Adani Group rebuilds investor confidence

27 June 2023, Published under Cement News

The Adani Group, which owns Ambuja Cements and ACC Ltd , is reportedly targeting 20 per cent YoY growth in pretax profits to INR900,000m (US$10,971m) within the next 2-3 years. According to Live Mint, the growth is expected to come from various sectors, including cement, airports, energy, logistics and power. The group has recently repaid loans amounting to US$2.65bn as part of a prepayment programme to reduce overall leverage and regain investor confidence following a negative report by ...

Ambuja Cements and ACC scoop sustainability awards

26 June 2023, Published under Cement News

Ambuja Cements and ACC , part of the Adani Group , have been recognised among ‘India's Top 50 Most Sustainable Companies’ by BW Businessworld. Ambuja Cements has also been named among ‘India’s Top 3 Most Sustainable Companies in the Infrastructure and Engineering Sector’ on the back of its “dedication to sustainability and outstanding success”, according to the company. Ajay Kapur, CEO, cement business, said, “We are immensely proud that both Ambuja and ACC have been recognised among...

UltraTech Cement Ltd ranked No1 for Sustainability

23 June 2023, Published under Cement News

UltraTech Cement Ltd has been ranked No1 in Sustainability in the Infrastructure and Engineering sector in Sustain Labs Paris and BW Businessworld’s India's Most Sustainable Companies list for the 2022-23. UltraTech has seen an improvement in its overall position in the India’s Most Sustainable Companies ranking. From being ranked No 15 in 2021-22, the company has improved two positions to No 13 in 2022-23. This improved ranking is a recognition of the significant progress made by Ul...

Barak Valley Cements announces resignation

23 June 2023, Published under Cement News

India-based Barak Valley Cements Ltd has announced the resignation of director, Dhanpat Ram Agarwal, with immediate effect, reports Dow Jones Newswire. Mr Agarwal is leaving the company “on account of personal reasons and other professional commitments”, according to the company. 

Indian cement prices forecast to fall 1-3%

21 June 2023, Published under Cement News

Cement prices in India are expected to fall by 1-3 per cent in the current fiscal year (April 2023-March 2024), after recording a four per cent compound annual growth rate (CAGR) over the past four fiscal years to a new all-time high of INR391 (US$4.77)/50kg bag, according to CRISIL Market Intelligence and Analytics. The increase in prices was due to disruptions caused by COVID-19, followed by a sharp surge in input costs, especially thermal coal, further aggravated by the Russia-Ukraine wa...

Adani Group in talks with more lenders over acquisition loan

21 June 2023, Published under Cement News

The Adani Group is reportedly in talks with at least five new international banks regarding its refinancing of US$3.8bn of loans taken for its acquisition of ACC Limited and Ambuja Cement in 2022. According to The Economic Times, the majority of the group’s existing lenders, including Standard Chartered, Barclays and Deutsche Bank, will also participate in the refinancing round. The group has reportedly begun discussions with two Taiwanese banks and a Malaysian bank among others to exp...

Shree Cement announces further expansion plans

19 June 2023, Published under Cement News

Shree Cement has announced a new round of capacity expansions, which will take the company’s total cement production capacity to 55.9Mta. The cement producer currently runs 46.4Mta of capacity with the new plans in line with the company’s vision to reach 80Mta by 2030, according to The Telegraph India.  The expansion plans includes four new projects, costing approximately INR55,000m-60,000m (US$671m-732m). The new plants will be located in Uttar Pradesh, Punjab, Karnataka and Bengal. Th...

Shree Digvijay halts production due to cyclone

19 June 2023, Published under Cement News

Shree Digvijay Cement Co has reportedly halted production at its 1.2Mta Digvijaygram integrated plant in Gujarat, India, due to a cyclone. Tropical cyclone Biparjoy made landfall in India’s western Gujarat state last Friday, bringing with it winds of 100kmph. Rainfall of up to 25cm is expected. The plant, which is located in the Jamnagar District, has a 0.96Mta clinker production capacity.   

Shiva Cement inaugurates Sundergarh mill

19 June 2023, Published under Cement News

India-based Shiva Cement , part of JSW Cement , has inaugurated its new cement plant in Sundergarh, Odisha. The new plant has an overall capacity of 1.05Mta as well as an additional 0.27Mta of cement capacity. Parent company, JSW Cement, announced plans to increase its installed capacity to 25Mta, up 47 per cent, in October 2022.

Kesoram Industries banks on blended cement for future growth

16 June 2023, Published under Cement News

Indian cement producer Kesoram Industries has reported a loss of INR1160m (US$14.2m) in the year ended 31 March 2023 (FY22-23), down from INR1300m in the same period a year earlier. The company expects to be back in profit this year on the back of a steady rise in the share of blended cements in its total sales, along with lower production and distribution costs, according to The Hindu.   The cement producer’s CEO, Mr P Radhakrishnan, forecasts EBITDA to improve to INR1000-1200/t in the...