Cement News tagged under: India
Cementos Yaracuy scheduled to come online this year12 March 2018, Published under Cement NewsAs part of an agreement between Venezuela and India, Megatech International is currently building a 600tpd cement plant in the Barranco Amarillo sector of the Valeroso Peña Industria Complex, Peña, Venezuela. The Cementos de Yaracuy project is expected to generate 300 direct jobs. "When starting operations, it will produce 600tpd of cement, for a total of 4.5m bags of 42 kilos per year, of which a percentage will be destined to other states and 30 per cent to exports to Aruba, Curacao an... |
Dalmia Bharat-led bid approved by lenders09 March 2018, Published under Cement NewsLenders to the bankrupt Binani Cement have decided that a a Dalmia Bharat-led bid would be allowed, thereby overruling the objections of UltraTech Cement. The offer fulfilled all of the conditions and hence there is no reason to block it, reports a source for The Economic Times. At a meeting held in Mumbai on Wednesday, the lenders involved decided to seek the approval of their respective boards on the Dalmia-Bain bid, where it was also revealed that Dalmia had received CCI approval for t... |
The Ministry of Coal cancels mining licence09 March 2018, Published under Cement NewsIndia's Ministry of Coal has cancelled the mining licence for the Mandla South coal block won by Jaypee Cement, following the sale of the attached plants to UltraTech Cement. Jaypee sold three of the four projects linked to the block in Madhya Pradesh to UltraTech in January 2017, reports The Economic Times. According to a letter written by the Ministry, "The successful bidder had sold the end use plants, which is major lapse on the part of successful bidder and also shows the clear inten... |
BJP government to conduct vigilance probe into land transfer09 March 2018, Published under Cement NewsThe Bharatiya Janata Party (BJP) government in Haryana, India, has decided to conduct a vigilance probe into the transfer of approximately 122 acres of land from Associated Cement Companies’ (ACC) Bhupendra factory to a Mumbai-based builder, reports The Times of India. Latika Sharma, MLA, Kalka (BJP), has stated that, as per the lease deed of the factory, the land could only be used for industrial purposes, but during the tenure of the previous government it was transferred to a builder... |
UltraTech takes 400t of waste from railway workshop08 March 2018, Published under Cement NewsUltraTech Cement has taken 400t of waste from the Golden Rock railway workshop in Ariyalur, India, to be used as an alternative fuel in its cement kilns. The company will take an additional 300t of cushions, rubber belts, berth covers and other rubber products over the coming months. The workshop is currently overhauling passenger coaches and diesel locomotives, and therefore hopes to sign another agreement to dispose of 5000t of waste, according to The Hindu. |
Nuvoco Vistas wins improvement award08 March 2018, Published under Cement NewsIndia-based Nuvoco Vistas Corporation Ltd has won the 'Best in Class Continuous Improvement Award' during the 7th Manufacturing Supply Chain (MSC) Awards held in Mumbai. The award was given to the company’s Jojobera plant for demonstrating continuous improvement in manufacturing through cost reductions in specific power consumption and specific heat consumption, increasing productivity by using cementation additions and plant logistics, according to Asian News International. "This is a pr... |
Ramco Industries to sell Kharagpur grinding unit07 March 2018, Published under Cement NewsRamco Industries Ltd has agreed with The Ramco Cements Ltd, a related party, for the sale of its clinker grinding unit in Kharagpur, West Bengal. The revenue contribution of the said unit was INR30,470m (US¢469m) - four per cent of Ramco Industries Ltd's revenue. The buyer will provide cash consideration of INR170m (US$36.1m) as part of the deal. |
UltraTech seeks clarity on Binani Cement bidding process07 March 2018, Published under Cement NewsUltraTech has approached the National Company Law Tribunal (NCLT) in Kolkata, seeking clarity on the evaluation of bids for Binani Cement, according to India Info Online. Dalmia Bharat outbid the company by approximately INR1bn (US$15.39m) to eventually win the assets. However, it has been reported that parameters such as the company’s background, experience and ability to pay upfront cash to secured lenders were taken into account. Binani Industries (BIL) has also petitioned the NCLT, cl... |
Dalmia Bharat wins bid for Binani28 February 2018, Published under Cement NewsDalmia Bharat Cement Ltd won the bid for Binani Cement on Tuesday, despite UltraTech Cement submitting an almost identical offer. The panel supervising the insolvency proceedings of Binani approved Dalmia’s resolution plan, which was backed by the Bain Piramal Resurgence Fund. Dalmia is expected to invest INR67bn (US$1.03bn) in Binani over a period of time. It has been alleged that UltraTech missed the opportunity due to concerns raised about penalties issued by the Competition Commissi... |
Gujarat Sidhee Cement commissions WHR plant28 February 2018, Published under Cement NewsGujarat Sidhee Cement has commissioned a 5.5MW waste heat recovery unit at its plant in Sidheegram, with effect from Sunday. Elsewhere, the company reported positive results for the 3Q17, with sales rising 21.2 per cent YoY to finish at INR1.28bn (US$19.78m). Net profit reached INR46.2m, compared to a net loss of INR43.5m seen in the year-ago period. |