Cement News tagged under: India
India: Seven cement firms fined for bid-rigging20 January 2017, Published under Cement NewsThe Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen... |
India: Binani Compat appeal dismissed18 January 2017, Published under Cement NewsIndia’s Competition Appelate Tribunal (Compat) has dismissed the appeal of Binani Cement seeking waiver of the direction to deposit with it 10 per cent of the total penalty amount which was imposed by Competition Commission in a cartelisation case. "Binani Cement has failed to substantiate its claim for review of our order dated November 28, 2016," Compat said. “[Binani Cement has] neither presented any fresh compelling or significant circumstances to justify review of our order nor point... |
India: JSW Bellary expansion to 3.4Mta16 January 2017, Published under Cement NewsJSW Cement Ltd is set to raise its installed capacity from 1Mta to 3.4Mta at its Bellary Plant in Karnataka. "We are increasing the cement manufacturing capacity from current 1Mta to 3.4Mta. The additional capacity will help JSW Cement to strengthen its distribution network in high-demand potential areas throughout South India," a company statement said. The company is also increasing capacity with its Vijay Nagar grinding facility in a move to strengthen its position in Karnataka and ... |
India: Andani Group to construct new 10Mta clinker plant12 January 2017, Published under Cement NewsAdani Group Chairman, Gautam Adani, has announced that Adani Cementation (ACL) will be the name of a new company to set up a 10Mta clinker plant with an investment of INR55,000m (US$809.1m). Adani Enterprises has already incorporated the new company, which will carry out the cement business in Gujarat. "In the past five years, we have invested INR480,000m in Gujarat," Adani said. Adani Ports, India's largest private port and logistics company, will invest INR167,000m in the next five ... |
India: Anjani Portland Cement commissions power plant12 January 2017, Published under Cement NewsAccording to reports in the Hindu, Anjani Portland Cement has commissioned a 16MW captive coal-fired power plant at its cement unit in Telangana. |
India: JSW Cement takes 37% stake in Shiva Cement12 January 2017, Published under Cement NewsJSW Cement has bought out the promoters of Odisha-based Shiva Cement, acquiring 37.15 per cent of the latter’s equity, the Economic Times reports. "The share purchase agreement has been executed with JSW Cement Ltd, for sale of shares held by the promoters of the company," Shiva Cement said in a stock exchange filing. JSW has also made an open offer to acquire a further 32 per cent of publicly held shares in Shiva – a majority stake. Shree Cement had also been in the running to acqu... |
India: Dalmia and Nagaur limestone blocks awarded11 January 2017, Published under Cement NewsThe government auction of the 3B1A Limestone Block in Zayal, Nagaur, India, has awarded the block to Emami Cement, which paid INR51bn (US$746m) for the 125t concession. Meanwhile, Dalmia Cement obtained the Chittorgarh B Block in Nimharea, Chittorgarh. The cement producer paid INR54bn for the limestone deposit, which has a reserve of 175t, the biggest block auctioned up to data. Secretary of Mines, Aparna Arora, said that six companies were competing at the auction, which is expected ... |
India: JSW Cement acquiring controlling stake in Shiva Cement11 January 2017, Published under Cement NewsJSW Cement Ltd is to buy the entire promoter holding in cement maker Shiva Cement Ltd and launch an open offer to acquire another 32 per cent from the company's public equity shareholders. Odisha-based Shiva Cement confirmed that it has agreed to sell its 35.6 per cent promoter holding to JSW Cement at INR14/share (US$0.20/share). In a separate BSE filing, JM Financial Institutional Securities Ltd, manager to the offer, said that JSW Cement, together with Sun Investments Pvt Ltd and Re... |
India: Burnpur Cement blames demonetisation for repayment failures10 January 2017, Published under Cement NewsBurnpur Cement has declared its inability to repay bank loans on Saturday due to demonetisation as its repayments had turned “irregular” with lenders because of “depressed” market conditions. Located in eastern India, Burnpur Cement is looking to raise its production capacity from 0.6Mta to 3Mta, split between two units, at a cost of INR5000m (US$73.3m). The company made a regulatory filing at the weekend and said it had fallen behind on repayments because its cash flow was impacted by dem... |
Shree Digvijay Cement Co awaiting environmental clearance for Pachhtardi10 January 2017, Published under Cement NewsShree Digvijay Cement Co is currently awaiting environmental clearance for the 0.35Mta (ROM) Pachhtardi limestone mining project near Pacchtardi village in Taluka Bhanvad, Gujarat. The mined limestone will be used for use at the company's cement manufacturing plant situated at Digvijaygram (Sikka), Devbhoomi Dwarka district. Mining will be by fully mechanised opencast method. The estimated cost of the project is INR50m (US$733,593). |