Cement News tagged under: India
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... |
OCL invests in West Bengal's first solar power plant01 April 2016, Published under Cement NewsOCL India, part of the Dalmia Bharat Group, has inaugurated West Bengal’s first and largest solar power plant. The 5.5MW photovoltaic plant will deliver power to its grinding unit at Godapiasal Industrial Park in Pashim Medinipore. "The solar plant we inaugurated today would generate approximately 8.25mkWh of energy per annum and will be the first and largest solar power plant in the state of West Bengal. The power generated from this solar plant shall be used for the purpose of captive c... |
India: UltraTech purchase of 22.4Mta capacity set to be announced31 March 2016, Published under Cement NewsUltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for some time. In December 2015 a deal for the Bela and Sidhi plants was suspended because a new law pre... |
India: railway holds talks with cement industry30 March 2016, Published under Cement NewsRavindra Gupta, general manager of South Central Railway (SCR), met with the domestic cement industry to assure them of all possible help from the railways to improve the movement of cement by rail. The general manager advised representatives of UltraTech Cement, Vasavadatta, Kesoram, Vikat Sagar, Manikgarh, Ramco, My Home, India Cements, JayPee, Pennar, Zuari Cements to use the concessions offered by railways in notified Empty Flow Direction routes and plans drawn for short and long lead... |
India: trucker workers’ dispute leads to plant stoppages29 March 2016, Published under Cement NewsA dispute between two trucker workers’ unions in Kashmir, India, has led to the four cement plants in the region cutting output, resulting in a loss of production of around 2500tpd. According to reports in Rising Kashmir, plants belonging to TCI MAX Cements, Cemtac Cements, Arco Cements and Itifaq Cements have been forced to cut production because of the dispute. The conflict between Zaffron Truckers Union and its newer rival Al Khudam Tipper-Truckers’ Union has failed to reach a settl... |
India: Dalmia Bharat wins go ahead for amalgamation29 March 2016, Published under Cement NewsDalmia Bharat has received approval from its Board of Directors for amalgamation of OCL India and Dalmia Cement East 'Bokaro' with Odisha Cement (OCL). The board has approved amalgamation of Adhunik Cement with Dalmia cement (Bharat) and transfer of power assets in Dalmia Cement Bharat Power Ventures to Dalmia Cement (Bharat), the company said in a filing to the Bombay Stock Exchange. The company has enhanced its commitment in adding value to its shareholders by consolidating its easter... |
India: Shree Cement set for more expansion28 March 2016, Published under Cement NewsShree Cement, the fourth largest domestic cement company, is looking to ramp up capacity by another 10Mta in the coming three years. The cement producer has lined up a capital expenditure of INR60000m (US$900m) to construct three new clinker plants. The first plant will be a 3Mta the line at Bazar-Bhatapara district, in Chhattisgarh. The company has recently won a bid for limestone reserves at the Karhi-Chandi area in the state to supply the plant with raw materials. This area has an... |
India: Emami Group to build Panagarh grinding plant28 March 2016, Published under Cement NewsChief minister Mamata Banerjee, on Saturday, in Panagarh, laid the foundation stone for Emami Group's new INR5000m (US$74.8m) grinding plant project that will be located in Panagarh. The Emami Group explianed that the new unit is likely to be commissioned by year-end. "The 2Mta capacity unit is to be located at WBIDC Panagarh Industrial Park in Burdwan district of West Bengal at an investment of INR5000m," a statement by Emami Cement said. "The project will be developed over a area of ... |