Cement News tagged under: India
Indian market to expand 5% in FY17-1821 July 2017, Published under Cement NewsInfrastructure and housing are expected to drive India’s cement demand in FY17-18. Consumption is forecast to increase five per cent YoY as growth accelerates from 1.2 per cent in FY16-17, according to Business Line. In FY16-17 output fell to 279.8Mt as demonetisation affected the market and saw sales volumes decrease by nine per cent between November 2016 and March 2017. However, the market picked up in April, bouncing back with a growth of 17 per cent and supported by rising prices as t... |
UltraTech to build Madhya Pradesh plant20 July 2017, Published under Cement NewsIndian cement major UltraTech plans to establish an integrated cement plant in Madhya Pradesh with a capacity of 3.5Mta. "The board has approved a greenfield integrated cement plant at Dhar in Madhya Pradesh with a capacity of 3.5Mta. The plant will involve an investment of INR2600 crore [US$403m] and is likely to being commercial production by the fourth quarter of FY19," UltraTech chairman, Kumar Mangalam Birla, said during the company's 17th annual general meeting. The new plant will... |
UltraTech sees profit growth in 1QFY1819 July 2017, Published under Cement NewsUltraTech Cement Ltd, an Aditya Birla Group Company, yesterday announced its unaudited financial results for the quarter ended 30 June, 2017. The results include those of the cement plants of Jaiprakash Associates Ltd (JAL) and Jaypee Cement Corporation Ltd (JCCL) acquired in terms of a Scheme of Arrangement effective 29 June 2017. Net sales for the period stood at INR69.38bn as compared to INR65.35bn in the corresponding period of the previous year. Profit before interest, depreciation an... |
Ambuja Cement secures Maharashtra limestone resources10 July 2017, Published under Cement NewsAmbuja Cement has secured a limestone resources of 42Mt in the state of Maharashtra through an e-auction by the state government. The LafargeHolcim company participated in the e-auction for a limestone block for Nandgaon Ekodi Limestone Block in Chandrapur district at a final bid price of 125.05 per cent of value of mineral dispatched. |
Bangladeshi exports earn US$9.58m in 11MFY16-1707 July 2017, Published under Cement NewsThe Bangladeshi cement industry earned an export revenue of US$9.58m during the first 11 months of FY16-17 compared to US$1.85m in corresponding months in a year ago. The export figure also includes a minor amount of salt, stone and related products, but the country’s export promotion bureau has welcomed the rise in cement exports. The figure substantially exceeds the government’s export target of US$2m for FY16-17, slightly down YoY from US$2.17m. India is the main destination of Ba... |
UltraTech reduces prices05 July 2017, Published under Cement NewsUltraTech Cement has reduced prices of its products by 2-3 per cent, extending benefits of a tax reduction under the countrys Goods and Service Tax (GST) regime, local press report. The company has started the supply of batches from its warehouses on new rates effective 1 July , when the new tax structure came into force. Cement has been taxed at 28 per cent under the GST as compared to 30-31 per cent in the previous taxation system. The reduction in prices would vary from state to st... |
Ambuja Cements receives state nod for new grinding plant04 July 2017, Published under Cement NewsOdisha's State Level Single Window Clearance Authority (SLSWCA) on Friday gave Ambuja Cement the go-ahead to construct a 1.5Mta cement grinding unit. The LafargeHolcim group's Indian concern has proposed the facility be established on 125 acres of land at Jharsuguda, according to Business Standard India. |
Jaiprakash receives director approval to divest assets to UltraTech30 June 2017, Published under Cement NewsJaiprakash Associates said it received approval from its committee of directors to close the transaction for selling part of its cement business to UltraTech Cement for INR161.89bn. The deal will see the cement plants in Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh move to UltraTech. An addition unit, currently under construction in Uttar Pradesh, will become part of UltraTech for an additional INR4.7bn. The proceeds of this transaction will help t... |
BK Birla Group's Kesoram Industries considers new grinding plants30 June 2017, Published under Cement NewsBK Birla group's diversified Kesoram Industries already operates 7.5Mta of cement capacity with its wtwo cement plants near Sedam and Basantnagar, but it has the potential to acquire 700 acres of limestone reserves at Gulbarga, which could sustain new production plants. Kesoram will analyse whether to construct grinding units on the Gulbarga site, where it owns the mining rights, said Tridib Kumar Das, whole-time director & CFO said after the annual general meeting of the company. "Gulb... |
Closure notice issued to three Telangana plants27 June 2017, Published under Cement NewsThe Central Pollution Control Board (CPCB) has directed three cement manufacturing units in Telangana state to shut down their operations and issued show-cause notices to 11 others, seeking replies as to why they should not be shut down for non-compliance with pollution control norms. The units that were issued closure notices belong to Kakatiya Cements in Nalgonda, Mancherial Cements in Mancherial and the public-sector Cement Corporation of India at Tandur, the New Indian Express reports. ... |