Cement News tagged under: India
Shree Cement enhances capacity by 2Mta, India17 April 2015, Published under Cement NewsShree Cement Ltd has informed the Bombay Stock Exchange that the company has completed the phase 2 of its new Ras new unit at Bangur city Ras, Pali district, Rajasthan. The project has enhanced Shree Cement’s capacity by 2Mta. |
ACC quarterly volumes lower on weaker demand15 April 2015, Published under Cement NewsACC reported a decline in sales volumes for the January-March 2015 period due to weaker cement demand from the infrastructure and the general construction sectors, India’s second-largest cement producer said in a statement yesterday. The Holcim group company said its cement sales in the first three months of 2015 were down by 10.2 per cent to 5.82Mt versus 6.48Mt in the same period of last year. However, a mix of better realisation on cement sold, as a result of an increase in cement p... |
Fitch affirms Holcim at 'BBB'; Outlook Stable15 April 2015, Published under Cement NewsFitch Ratings has affirmed Holcim Ltd's (Holcim) Long-term and Short-term Issuer Default Ratings (IDR) at 'BBB' and 'F2', respectively. The Outlook is Stable. "The affirmation reflects Holcim's leading market positions as one of the world's largest cement producers and our expectation that its financial profile remains commensurate with its 'BBB' rating. We expect a recovery in global end-markets, particularly in developed markets, and the continued healthy, albeit slowing, growth in emer... |
Nomura expects Indian demand recovery in FY1613 April 2015, Published under Cement NewsNomura expects Indian cement companies to see demand recover in the current fiscal year, after a weak ending to fiscal 2015 in March. The broker expects Indian cement companies' revenues and operating profit to stay flat for the January-March period, owing to falling volumes. Cement volumes fell by about five per cent YoY during that period – the weakest in any quarter in the past couple of years, says the broker. However, going into fiscal 2016, which began in April, Nomura expects ceme... |
Mumbai Port Trust allots land for cement handling terminal13 April 2015, Published under Cement NewsThe Mumbai Port Trust has allocated allotted 25,000m2 of land at Petroleum Godown to UltraTech Cement for 30 years, to build a fully-automated cement handling terminal. The terminal will be used to ship in cement in from other states and distributed to users across the city, according to trust chairman and managing director Ravi Parmar. The facility will be equipped with portable unloaders, 30,000t silos, bagging facilities and other ancillary facilities and is estimated to cost about US$16... |
Expected second-quarter pick-up in Indian demand07 April 2015, Published under Cement NewsIndian cement demand is expected to see a revival over the July-September quarter on the back of an increase in infrastructure spending. Consumption continued to remain tepid during March, leading cement producers to cut their dispatches by 20-30 per cent even in the northern region which has been one of the most stable regions, according to brokerage firm PL India. Its report on the sector said that the weakness was primarily influenced by the government’s reduced spending to manage the f... |
India: Rashmi Group to invest USD24m in new plant06 April 2015, Published under Cement NewsRashmi Group (India) intends to invest INR1.5bn (USD24m) to increase cement capacity at its 0.2Mta Jhargram grinding plant in West Bengal. The company is increasing its investment into steel products at Kharagpur and aims to use slag produced from the steel plant for cement production at the nearby Jhargram plant. |
Builders challenge cement price rise in southern India06 April 2015, Published under Cement NewsThe price of cement has gone up by INR100 per bag (USD1.61) over the last six months in Tamil Nadu, according to the Tiruchi branch of the Builders’ Association of India. The construction industry has been adversely affected and the Builders’ Association of India is now exploring the possibility of importing cement, claimed Mr Thirusangu, chairman of the association in Tiruchi. Furthermore, the rising price is not linked to the increase in cost of any cement manufacturing inputs. “The incr... |
India: CREDAI to import Chinese cement03 April 2015, Published under Cement NewsFollowing the Telangana government's decision to impose a road tax on trucks from Andhra Pradesh and the spiralling hike of cement prices facing builders, the Confederation of Real Estate Developers' Association of India (CREDAI) is planning to import cement, particularly from China. With truck owners suspending their operations in protest of the new tax, cement shortages have been reported. "At present, the cost of a premium cement bag is INR365 in the retail market, and it is set to in... |
Lafarge and Holcim receive clearance from CCI on proposed merger02 April 2015, Published under Cement NewsHolcim and Lafarge yesterday announced they have received clearance from the Competition Commission of India (CCI) on their proposed merger. A package of asset divestments has been agreed with the CCI which involves the sale of the Sonadih cement plant and Jojobera grinding unit both owned by Lafarge. The two plants have a combined capacity total capacity of 5Mta and are situated in eastern India. The groups said in a joint statement that the divestment process will be carried out in the ... |