Cement News tagged under: India
India: Sagar Cements reports 16% rise in March sales08 April 2016, Published under Cement NewsIndia’s Sagar Cements Ltd reported a 16 per cent increase in March sales from 170,410t in 2015 to 197,583t. Sales were particularly strong in Andhra Pradesh and Telangana, where they rose by 135 per cent to 59,830t and by 119 per cent to 52,101t, respectively. Sales in Karnataka were hit by a 47 per cent decline and in Tamilnadu they fell by 36 per cent. Orissa and Maharashtra recorded decreases of 18 and six per cent, respectively. Output saw a 42 per cent rise from 140,480t in March 2015 t... |
UltraTech is in a better position to control India's cement market08 April 2016, Published under Cement NewsUltraTech Cement has undertaken series of acquisitions and organic expansions over the past year. This will help the country's largest cement manufacturer in enhancing market share, getting greater control on setting prices and achieving higher sales and volumes growth, claims the Economic Times-Bangalore. UltraTech's capacity has increased to 92.3Mta from 63.2Mta in FY15. This includes the recent acquisition of 22.4Mta of cement capacity from JP Associates including access to the 40 year... |
The BRICs come under pressure08 April 2016, Published under Cement NewsWhile the cement world has been concentrating on the slowdown in China and the large-scale mergers in India's cement sector, there has been little notice to the plight of other BRIC countries that are underperforming and are not attracting the investment that had previously put them at the top of the growth chart. The Economist Intelligence Unit this week observed that: "It has been clear for some time that the BRICs has had its day. While China and India have largely lived up to the grou... |
India: UltraTech receives state pollution control board OK for Nagpur07 April 2016, Published under Cement NewsUltraTech Cement Ltd has received approval by the Maharashtra Pollution Control Board to build a 2Mta grinding facility at Nagpur in Maharashtra, India. The clearance, which is valid until October 2020, includes strict conditions relating to the disposal of solid and liquid waste as well as prevention and control of air pollution. The new plant, which is expected to be constructed on a 99ha site, represents an investment of INR3.18bn (US$47.8m). The project includes a 12MW captive pow... |
Bharathi Cement wins Asia's 2015-16 most promising brand award07 April 2016, Published under Cement NewsBharathi Cement Corporation Pvt Ltd, a Hyderabad-based cement producer and member of the Vicat-France Group, has been adjudged as the “Asia’s most promising brand Award for 2015-16” by World Consulting and Research Corporation, reports Business Wire India. Bharathi Cement was chosen from the survey conducted by ibrands 360. For the award, nearly 100 top brands were selected out of a shortlist of 400 from different areas of business across Asia. Ashish Padhi, counsellor (science, education... |
India: cement prices to hold up thanks to merger deals06 April 2016, Published under Cement NewsIndia's stock researcher Livemint is forecasting that mergers like that between JP Associates Ltd and UltraTech Cement Ltd and also Birla Corp Ltd and Reliance Infrastructure Ltd will rationalise ownership to support cement prices. Meanwhile, with government projects gaining traction in areas like state metros, highways, low-cost housing and dedicated freight corridors, besides irrigation and water supply, demand and consequently cement dispatches are likely to improve from the fourth quar... |
Deadline nears for LafargeHolcim India assets bids05 April 2016, Published under Cement NewsAdvisors to the sale of LafargeHolcim's 11Mta Indian cement production capacity say that they expect to receive seven to eight bids before next week's deadline. The sale - which was a required by competition authorities - has attracted the attention of a number of private equity firms. According to reports by India’s Mint newspaper, Temasek Holdings, Advent International, Barings Asia Private Equity, Blackstone, Aion Capital and the investment arm of Piramal Group are all evaluating the d... |
Indian cement prices rise 1% in March05 April 2016, Published under Cement NewsIndian cement prices rose MoM in March to INR290-295 (US$4.37-4.44)/bag as demand led by construction activity in north and central India improved slightly, acording to Cogencis Information Services. Prices in north India rose by eight per cent MoM, while in central India, they were up by six per cent. However, the overall picture YoY saw cement prices fall by six per cent. In western, eastern and southern regions cement prices decreased in the range of around 1-6 per cent, mainly due to ... |
Sanghi exits corporate debt restructuring04 April 2016, Published under Cement NewsIndia's Sanghi Industries announced it had exited from the corporate debt restructuring (CDR) mechanism and repaid its INR2.56bn debt as well as raised funding via non-convertible debentures of INR2.56bn as additional capex. The company said it plans to raise its capacity to 4Mta in time. The expansion plans require INR11bn in financing and at present Sanghi is considering several options to raise funds, according to company director, Bina Engineer. He expects financing to be completed in ... |
India: UltraTech confirms US$2.4bn purchase of Jaypee assets01 April 2016, Published under Cement NewsUltraTech Cement has reached a definitive agreement in its deal to buy 21.2Mta of production capacity from Jaiprakash Associates (JAL) at a cost of INR159bn (US$2.4bn). India's Telegraph newspaper reports that UltratTech will acquire existing plants with a capacity of 17.2Mta as well as a 4Mta grinding unit currently under construction. Originally, the sale was to include Jaypee’s 1.2Mta Shahabad plant, but this will now be retained by JAL, which will still have 10.6Mta of production... |