Cement News tagged under: India
Efforts underway to revive Bheema Cements22 June 2017, Published under Cement NewsThe Telangana state government has begun efforts to revive the Bheema Cements work in Suryapet district, India. The plant was closed due to losses in 2014 and mining leases allotted to the plant also lapsed, according to the report in Business Standard, India. In November last year, the state government established a committee comprising senior officials for revival of the company. Based on the recommendations of the committee the government agreed to give some facilities for payin... |
Double-digit decline in Pakistan cement exports over 11FY1720 June 2017, Published under Cement NewsPakistan cement exports during the first 11 months (July 2016 to May 2017) of the current fiscal declined by 21.27 per cent to 4.319Mt versus 5.486Mt a year earlier, according to latest data from the All Pakistan Cement Manufacturers Association (APCMA). Exports to Afghanistan decreased from 0.206Mt in May 2016 to 0.097Mt in May 2017, representing a decline of 53.03 per cent. Exports to India also fell from 0.135Mt in May 2016 to 0.114Mt in May 2017, down 15.22 per cent YoY. The APCMA e... |
Trinetra minority shareholders challenge merger plan20 June 2017, Published under Cement NewsMinority shareholders of Trinetra Cements, a subsidiary of India Cements, have approached India's National Company Law Appellate Tribunal (NCLAT), to challenge the planned merger of the two companies, Business Standard of India reports. Arvind Aggarwal and Ritu Aggarwal, who own around 2.4 per cent shares in Rajasthan-based Trinetra, have alleged there are various deficiencies in the merger scheme sanctioned by the Chennai bench of National Company Law Tribunal (NCLT) in April. The petiti... |
Nepal sees rise in cement imports from India15 June 2017, Published under Cement NewsCement imports from India to Nepal have doubled over the first 10 months of the current fiscal, according to a report in the Himalayan Times. The value of imports of cement arriving into Nepal from its neighbouring country reached NPR16.02bn (US$155.8m) compared to NPR7.99bn in the corresponding period of the last fiscal. Between 10-15 per cent of cement is imported from India and around 30 per cent of production relies upon imported clinker. A blockade by India restricted import... |
New plants in the pipeline for Andhra Pradesh15 June 2017, Published under Cement NewsThree Indian companies have proposed to set up new plants in the southern Indian state of Andhra Pradesh, Business Standard (India) reports. According to the state government, Chettinad Cement Corp plans to set up a grinding unit and cement plant in Vizag and Guntur districts, respectively, with start-up scheduled for March 2019. Meanwhile, KCP Ltd is to set up a plant in Krishna district, the first phase of which is due to begin operations in a year's time. Rain Group, which also ha... |
Sagar eyes 18% rise in production14 June 2017, Published under Cement NewsSagar Cements is expecting around 18 per cent jump in its production to 2.6Mt in FY17-18 following the consolidation of a grinding unit acquired last year. Speaking during the company's earnings conference call, Executive Director S Sreekanth Reddy said last year volumes reached 2.2Mt. In the 3Q the company acquired a grinding unit in Anakapally, Visakhapatnam, which will boost production volumes further. "Keeping all these things in mind the overall outlook for us for Sagar is to grow f... |
India producers refute cartel allegations13 June 2017, Published under Cement NewsRepresentatives from various cement companies on Friday denied that they formed a cartel to artificially hike prices, saying market dynamics decide the prices, not the companies. There have been allegations of cartelisation and ‘unjustified’ prices in Andhra Pradesh and Telangana in the south of the country from builders after a steep hike in prices in the two markets recently. "Price hikes have to be factored in the context of price volatility, escalating costs and low capacity utilisa... |
Cement price recovery in western India12 June 2017, Published under Cement NewsCement prices in western India have recovered from the lows touched a year ago, and on a YoY basis have seen the highest improvement among all domestic regions. In June the price of cement stood at INR335 (US$5.20)/50kg bag, 16 per cent more than the INR290/bag recorded in the same month a year earlier, according to a recent dealer channel check report by Kotak Institutional Equities. On a sequential basis, prices improved by INR2/bag. The recovery has largely been driven by the state o... |
Birla Corp reports strong 4QFY16-1712 June 2017, Published under Cement NewsCost efficiencies and good price realisations helped India-based Birla Corp post strong results in the final quarter of FY16-17. Revenue increased by six per cent YoY during the quarter driven by price realisation for the period which was up by 11 per cent YoY to INR4514 (US$70.1)/t. EBITDA was INR949m, down ~8 per cent yoy chiefly due to the cement division's lower-than-expected EBIT margin. The cost per tonne rose 14 per cent YoY of this, freight costs rose 12 per cent YoY, and power ... |
HeidelbergCement India expects 6-7% market growth07 June 2017, Published under Cement NewsHeidelbergCement India expects cement demand to increase by 6-7 per cent in FY17-18, with the government’s focus on infrastructure being considered a key driver. The company also said that while prospects of a normal monsoon bode well for the industry, oversupply may restrict the ability to pass on any input cost increase, it said in an investor presentation. The Economic Times of India highlighted that HeidelbergCement cited prospects of normal monsoons, increased focus and outlay fo... |