Cement News tagged under: India
Adani Group in talks with more lenders over acquisition loan21 June 2023, Published under Cement NewsThe Adani Group is reportedly in talks with at least five new international banks regarding its refinancing of US$3.8bn of loans taken for its acquisition of ACC Limited and Ambuja Cement in 2022. According to The Economic Times, the majority of the group’s existing lenders, including Standard Chartered, Barclays and Deutsche Bank, will also participate in the refinancing round. The group has reportedly begun discussions with two Taiwanese banks and a Malaysian bank among others to exp... |
Shree Cement announces further expansion plans19 June 2023, Published under Cement NewsShree Cement has announced a new round of capacity expansions, which will take the company’s total cement production capacity to 55.9Mta. The cement producer currently runs 46.4Mta of capacity with the new plans in line with the company’s vision to reach 80Mta by 2030, according to The Telegraph India. The expansion plans includes four new projects, costing approximately INR55,000m-60,000m (US$671m-732m). The new plants will be located in Uttar Pradesh, Punjab, Karnataka and Bengal. Th... |
Shree Digvijay halts production due to cyclone19 June 2023, Published under Cement NewsShree Digvijay Cement Co has reportedly halted production at its 1.2Mta Digvijaygram integrated plant in Gujarat, India, due to a cyclone. Tropical cyclone Biparjoy made landfall in India’s western Gujarat state last Friday, bringing with it winds of 100kmph. Rainfall of up to 25cm is expected. The plant, which is located in the Jamnagar District, has a 0.96Mta clinker production capacity. |
Shiva Cement inaugurates Sundergarh mill19 June 2023, Published under Cement NewsIndia-based Shiva Cement , part of JSW Cement , has inaugurated its new cement plant in Sundergarh, Odisha. The new plant has an overall capacity of 1.05Mta as well as an additional 0.27Mta of cement capacity. Parent company, JSW Cement, announced plans to increase its installed capacity to 25Mta, up 47 per cent, in October 2022. |
Kesoram Industries banks on blended cement for future growth16 June 2023, Published under Cement NewsIndian cement producer Kesoram Industries has reported a loss of INR1160m (US$14.2m) in the year ended 31 March 2023 (FY22-23), down from INR1300m in the same period a year earlier. The company expects to be back in profit this year on the back of a steady rise in the share of blended cements in its total sales, along with lower production and distribution costs, according to The Hindu. The cement producer’s CEO, Mr P Radhakrishnan, forecasts EBITDA to improve to INR1000-1200/t in the... |
JK Lakshmi to ramp up capacity to 30Mta by 203014 June 2023, Published under Cement NewsJK Lakshmi Cement has announced plans to invest INR80,000m (US$972m) over a six-year period to increase its cement production capacity to 30Mta. According to Business Line, the investment will be made between 2024 and 2030 to raise capacity primarily through expansions and acquisitions. The company has already begun to acquire land for greenfield opportunities at Nagaur (Rajasthan) in north India and Kutch (Gujarat) in west India. It is also currently expanding capacity at its subsidi... |
Adani Group in talks to refinance loan14 June 2023, Published under Cement NewsIndia's Adani Group is in talks with lenders to refinance up to US$3.8bn of a loan facility taken for its acquisition of Ambuja Cements Ltd last year, according to Bloomberg News. The group is reportedly deciding whether to convert the original loan into debt with a longer maturity period. Although the deal is yet to be finalised, Bloomberg News says the group is expected to conclude the process within four months with most of its existing lenders, including Barclays Plc, Deutsche Ba... |
JSW Cement secures SLL funding for capacity expansion12 June 2023, Published under Cement NewsJSW Cement has signed a Sustainability Linked Loan (SLL) agreement with BNP Paribas Singapore for INR4140m (US$50m). According to BusinessLine, the cement producer has raised a total of INR8000m in SLL-based funding in two tranches, the first being through MUFG Bank in October last year. The funding is being used to expand capacity in line with JSW's plans to boost production capacity to 50Mta in India. Parth Jindal, managing director of JSW Cement, said that the company has grown prod... |
JK Cement agreement to purchase Toshali Cements08 June 2023, Published under Cement NewsJK Cement has seen its shares rise after agreeing in principle a share purchase agreement for Toshali Cements for INR1570m (US$19m). The Board of Directors in its meeting has accorded in-principle approval to sign/execute a share purchase agreement with the shareholders and also with Toshali Cements Pvt Ltd (Toshali) for the acquisition of 100 per cnet equity shareholding from all the existing shareholders of Toshali," the company said in an exchange filing. Toshali Cement at present h... |
JK Lakshmi Cement wins Superbrand accolade08 June 2023, Published under Cement NewsIndia-based JK Lakshmi Cement has been awarded Superbrand status for 2023-24, making it the only brand in the grey cement category to receive this accolade. According to Devdiscourse, the selection process for the award involved a survey of more than 23,000 individuals across India to identify brands that excel in various parameters of building their brand name. JK Lakshmi Cement emerged as a clear winner with an average score of 6.6 putting it in the top 10 per cent of all scores across a... |