Cement News tagged under: India
India: Sagar Cements reports rise in monthly output and sales09 September 2015, Published under Cement NewsIndia-based Sagar Cements Ltd on Tuesday reported a 6.87 per cent rise in output during August 2015 to 114,600t compared to 107,236t a year earlier. Dispatches during August 2015 stood at 113,380t, an increase of 5.23 per cent, compared to 107,749t in August 2014. Earlier this month the company completed the acquisition of a 100 per cent shareholding in BBM Cements. BMM Cements has now become a wholly-owned subsidiary of Sagar Cements. |
Reliance Cement joins e-commerce world04 September 2015, Published under Cement NewsReliance Cement Co Pvt, a subsidiary of Reliance Infrastructure, has announced its entry into e-commerce via a new "e-tailing" facility, which will be initially available in Uttar Pradesh, Madhya Pradesh and Maharashtra, India. The e-tailing facility is available for a minimum order of 25 bags and delivery to customer will take place within 48h. "With this, Reliance Cement has become one of the first e-commerce cement companies in India," said Atul Desai, chief marketing officer of the co... |
UltraTech Cement poised to lift capacity to 71Mta02 September 2015, Published under Cement NewsUltraTech Cement is set to take its capacity to 71.2Mta by 31 March 2016 on the back of ongoing projects as well as recent acquisitions, chairman Kumar Mangalam Birla said on Friday. "Despite the cement industry being snowed under the slowdown in the rural economy, lack of investment from both private and public sector coupled with the overall sluggish demand, UltraTech had put in a commendable performance...With the on-going projects underway, the capacity in India will grow to 71.2Mta by... |
India: BMM Cements becomes wholly-owned subsidiary of Sagar Cements01 September 2015, Published under Cement NewsSagar Cements has acquired 100 per cent equity holding in BMM Cements. With this, BMM Cements has now become a wholly-owned subsidiary of the company. The company had earlier received final approval for the acquisition of 100 per cent equity stake in BMM Cements, which owns a cement plant of 1Mta and a 25MW captive thermal power plant in Gudipadu near Tadipatri Anantapur District in the state of Andhra Pradesh. The board of directors at their meeting held on 17 October 2014 approved the d... |
UltraTech reportedly nearing deal to buy Bhilai grinding plant, India27 August 2015, Published under Cement NewsUltraTech Cement is rumoured to be in advanced talks to buy Jaiprakash's 2.2Mta grinding plant in Bhilai, Chhattisgarh state, according to local press. Citing sources familiar with the matter, the reports state that the two companies are waiting for approval from state-run steelmaker Steel Authority of India Ltd (SAIL), which owns 26 per cent of the plant, before finalising the deal. In December, UltraTech agreed to acquire the Madhya Pradesh assets of Jaiprakash Associates Ltd, which ... |
UltraTech Cement24 August 2015, Published under Cement NewsIndia and the UAE have announced plans to create a multi-billion dollar fund to invest in India’s infrastructure sector. The fund, which plans to raise up to US$75bn, will be focused on next generation projects including railways, ports, roads, airports, industrial corridors and parks. Although no time frame has been given, or details on how the fund will be financed or structured, UltraTech Cement will be among the cement companies hoping the new fund will bring with it an increase in cem... |
JSW Group resumes plans for Bengal plant, India21 August 2015, Published under Cement NewsThe JSW Group has proposed to build a 2.5Mta slag-based cement plant in Salboni, Bengal. Should everything proceed as planned, the Mumbai-based conglomerate may start the project next year. The company had originally signed an agreement with the Buddhadeb Bhattacharjee-government to invest in a 10Mt steel and 1680MW power plant, which had included a cement unit to utilise the slag generated from the blast furnace plant. However, the project was put on hold in December 2014. But now the pl... |
Petron Engineering Construction receives order from Shree Cement, India21 August 2015, Published under Cement NewsPetron Engineering Construction has received work order from Shree Cement in Bewar, Rajasthan, India. The order includes civil construction work, reinforcement and steel work of a ball mill structure for a contract value of US$1.79m. |
LH to sell two eastern Indian plants to Birla Corp17 August 2015, Published under Cement NewsLafargeHolcim announces that it has entered into a letter agreement with Birla Corp Ltd, subject to approval by the Competition Commission of India (CCI), for the divestment of certain assets in India for an enterprise value of INR50bn (approximately US$765.8m). The proceeds from the sale of the divestment business will be used to further reduce debt. As announced in April 2015, LafargeHolcim has received conditional clearance from the CCI for the merger. In that context, a package of ass... |
India Cements reports low demand in 2Q1513 August 2015, Published under Cement NewsSouth India's largest cement maker by volume, The India Cements Ltd, on Wednesday said its profits for the quarter ended June 2015 were INR4010m (US$617.2m) from a loss of INR2960m (US$25.5m) in the comparable quarter last year. Cement producers in south India have previously found profits hard to come by with excess capacity and falling demand. "It's a quarter where price stabilisation happened and a slightly better quarter, but poor demand," said MD of ICL, N Srinivasan. He said hat the... |