Cement News tagged under: India
India: CCI closes case against 11 cement companies24 November 2014, Published under Cement NewsThe Competition Commission of India (CCI) has closed a case of alleged cartelisation among cement companies for lack of evidence. An anonymous reference had alleged that the cement producers had increased prices by INR75/bag (US$1.21) within the period of a month, according to HN Mint news service. The companies were named as Penna Cements, India Cements, Ramco Cements, Bharathi Cements, Dalmia (Bharat) Cements, Bhavya Cements, Zuari Cements, Ultratech Cements, Jaypee Cements, KCP Cements... |
Shree Cement gets go-ahead for Bihar plant, India20 November 2014, Published under Cement NewsThe state government of Bihar has approved Shree Cement’s plans for a new cement plant in the Aurangabad district. Informing about the Cabinet decision, B Pradhan, Principal Secretary of the Cabinet Secretariat told reporters: “The company had proposed to set up a cement plant with a production capacity of 20 lakh metric tonnes per annum [2Mta]. It will also have a 12MW biomass based captive power plant." |
Competition Commission clears Shree acquisition of Jaiprakash unit19 November 2014, Published under Cement NewsThe Competition Commission of India (CCI) said it has approved a proposal of Shree Cement to acquire Jaiprakash Associates' 1.5Mta grinding unit in Haryana, saying the deal will not raise anti-competition concerns. The proposed deal involves the transfer of the cement grinding unit at Haryana's Panipat owned by Jaiprakash Associates to Shree Cements by way of a slump sale, a notification on the competition panel's website said. "The proposed combination is not likely to have an a... |
India Cements: back in the black13 November 2014, Published under Cement NewsIndia Cements has reported a profit for the July-September quarter on higher income and lower expenses following a loss in the same period of the previous year. For the three months to the end of September 2014, the company posted a net profit of INR7.5 crore against loss of INR22.5 crore in the year-ago period. Total income from operations grew by 3.84 per cent to INR1136 crore in the quarter ended September 2014 from INR1094 crore in same quarter a year earlier. Operating profit ... |
India Cements board to consider raising INR5bn, mulls MSE delisting12 November 2014, Published under Cement NewsIndia Cements today said its board will consider a proposal to raise INR5bn (US$81.3m) from investors. "The Board of Directors at its meeting will, consider the following issue of QIP, FCCB, GDR and/or other securities for a total sum not succeeding INR500 crore”, India Cements said in a filing to the BSE stock exchange. The board would also consider delisting of its shares from the Madras Stock Exchange Ltd (MSE), it said. |
Pakistan exports continue to fall in first quarter05 November 2014, Published under Cement NewsPakistan cement exports continued to fall in the first quarter of FY14-15, largely due to declining shipments to its biggest market of Afghanistan. Export volumes in the July-September 2014 period fell by 3.85 per cent to 2.436Mt while revenues were down 3.22 per cent to US$ 142.77m. In terms of the Pakistan rupee, revenues also showed a 5.38 per cent drop to PKR14.36bn. On a slightly more positive note, the average export price of cement inched ahead by 0.58 per cent YoY to US$58.59/t.... |
HeidelbergCement03 November 2014, Published under Cement NewsHeidelbergCement India, which markets its cement under the Mycem Cement brand, sold 17.7 per cent less cement at 2.21Mt, though in the third quarter a 20.9 per cent increase was recorded. The share of turnover generated in central India rose from 67 per cent in the first nine months of 2012 to 80 per cent this year, as the output of the Damoh and Jhansi works in central India rose by 44 per cent, while those in the south and west registered a 24.6 per cent reduction. The turnover for the ... |
Holcim03 November 2014, Published under Cement NewsACC Ltd in India increased cement deliveries in the three months to the end of September by 2.6 per cent to 5.546Mt, while the nine-month figure was off by 0.5 per cent at 18.08Mt. The turnover for the nine months fell by 2.7 per cent to INR82.15bn (US$1.3bn), with EBITDA falling by 29.7 per cent to INR12.682bn and the pretax profit declining by 15.3 per cent to INR9.764bn. At the net attributable level, however, there was a 1.2 per cent improvement to INR8.19bn. Expansion work at the Jamul... |
Better price realisations boost ACC and Ambuja’s third-quarter revenues31 October 2014, Published under Cement NewsHolcim’s Indian subsidiaries ACC and Ambuja Cements both reported higher revenues for the 3Q14, on the back of a recovery in prices, but sales volumes remained a concern. ACC, the country’s second-largest producer, saw revenue grew by 9.4 per cent to INR2742 crore, driven primarily by a better pricing environment. Operating EBTIDA rose 32 per cent to INR379.08 crore. Net profit was INR193 crore, up 62 per cent YoY. Sales volumes at 5.62Mt during the September quarter were only 1.4 per cent... |
India: Malabar Cements gets state gov't nod for Cochin Port unit30 October 2014, Published under Cement NewsThe state government of Kerala, India, has given Malabar Cements Ltd the green light to set up a bulk cement handling unit at the Port of Cochin. Malabar Cements has shown an interest in establishing a cement handling and bagging unit following the decision by Cochin Port to allow cement companies to bring in raw materials via sea using the port facilities. The new unit is expected to have a capacity of 0.6Mta and be completed within two years. Cochin Port is a major port on the Arabian S... |