Cement News tagged under: India
Tamil Nadu launches subsidised cement to market05 January 2015, Published under Cement NewsThe government of Tamil Nadu government has rolled out the 'Amma Cement' brand, which will be sold at subsidised rate on the local market. According to the scheme, launched by AIADMK supreme Jayalalithaa as Chief Minister in September, the government will procure the cement from private manufacturers and sell it at INR190 per bag (US$3), reportedly INR100 cheaper than current prices in the southern Indian state. Jayalalithaa is addressed as 'Amma' (Mother) by her party supporters. The r... |
India: NHAI supported highways to use cement02 January 2015, Published under Cement NewsUnion Transport Minister Nitin Gadkari said all new highway projects supported by National Highway Authority of India (NHAI) will use cement concrete. Gadkari said that the current rate of cement per bag is about INR350 (US$5.53), but his Ministry has located a supplier who will sell cement at INR120/bag (US$1.89/bag), excluding taxes and transport. The Maharashtra Government and local municipal bodies have also been advised to use the cheaper cement, he said. Gadkari said that the planned... |
Further disposals on the cards for Jaiprakash?30 December 2014, Published under Cement NewsJaiprakash Associates Ltd may divest of two further cement units, channel checks by Mumbai broker Prabhudas Lilladher indicate. The two units reported to go on the block are Jaiprakash's 5Mta plant in the northern Indian state of Himachal Pradesh and the 2.2Mta works in Bhilai in the eastern state of Chhattisgarh. "We believe that exit of JPA (Jaiprakash) would be positive for the sector with the revival of rational pricing and sensible capacity addition," the research house said. Last... |
JK Lakshmi commissions Chattisgarh works, India29 December 2014, Published under Cement NewsJK Lakshmi Cement has commissioned its cement plant in Chhattisgarh and is now looking to serve eastern Indian states from the 3.5Mta works. The integrated plant, situated in Durg, was commissioned on 15 December.Aside from sales to the Chhatisgarh market, the company's 'Proplus' cement will be targetted at the Odisha, Bihar, Jharkhand and West Bengal regions. Cement will be sold at INR285-290/bag, a company source told Cogencis news. Going forward, JK Lakshmi Cement is looking to constru... |
India Cements board approves funding proposal29 December 2014, Published under Cement NewsThe Board of India Cements has approved a proposal to raise INR500 crore through qualified institutional placements or foreign currency convertible bonds to meet capital expenditure, a senior company official has said. "The Board has approved the proposal for raising an amount not exceeding INR500 crore by way of issue of QIP/FCCB/GDR or other Securities to improve the leverage and for meeting normal capital expenditure," N Srinivasan, vice chairman and managing director of India Cements ... |
Holcim and Lafarge select future executive committee24 December 2014, Published under Cement NewsHolcim and Lafarge have selected the future executive committee to head the combined company after completion of the merger. In the new set-up, Bruno Lafont, as CEO, will head up a project team of 10 seasoned managers who will lead the transition until the completion of the merger. Once the merger is finalised, the members of this project team will be officially appointed members of the Executive Committee of the proposed combined company by the future Board which will be chaired by Wolfgang... |
UltraTech Board approves Jaiprakash Associates MP acquisition24 December 2014, Published under Cement NewsThe Board of Directors of UltraTech have approved in principle the acquisition of the Madhya Pradesh assets of Jaiprakash Associates Ltd, which represents an entreprise value of INR54bn (US$852m). The acquisition includes an integrated cement plant with a clinker capacity of 2.1Mta and a cement capacity of 2.6Mta in Bela and an integrated unit at Sidhi with clinker and cement capacities of 3.1Mta and 2.3Mta, respectively. The deal also covers a 180MW thermal power plant complex of which 1... |
India: CMA calls for lower tax on cement24 December 2014, Published under Cement NewsIndia’s Cement Manufacturers Association has urged the government to lower the overall tax on cement by 20-25 per cent. In a pre-Budget representation, the industry body said despite being a core industry, overall taxes hover around 60 per cent, comparable with luxury goods while other key industries such as coal and steel are subject to considerably lower tax rates. Excise duty is levied at 12 per cent apart from an additional INR120/t, while duty on other core items is around five per c... |
India Cements: INR370kg/bag isn't viable23 December 2014, Published under Cement NewsProducing cement in southern India at the current price of around INR370 (US$5.83)/50kg is not viable, according to N Srinivasan, India Cements' vice-chairman and MD. Against a background of falling demand, interest, freight and other manufacturing costs were steadily increasing, pushing cement producers into losses. “Cement is treated as a commodity, but it is actually a manufactured product but doesn’t get the benefits of a manufactured product,” he said. “Over the last eight years, ... |
UltraTech reportedly in talks to buy further Jaiprakash units19 December 2014, Published under Cement NewsUltraTech Cement is in talks to acquire Jaiprakash Associates Ltd's cement plants in central and southern India, people with knowledge of the matter have told local press. The company is discussing the purchase of cement plants in the Indian states of Uttar Pradesh, Madhya Pradesh and Andhra Pradesh, the sources told Mint News. Last year, UltraTech purchased Jaiprakash’s cement plant in Gujarat which has a capacity of 4.8Mt. |