Cement News tagged under: India

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Citi Venture Capital International interested in Shriram Group investment

28 August 2012, Published under Cement News

Citi Venture Capital International (CVCI) is reportedly holding talks to invest INR400crore in the cement unit of southern conglomerate Shriram Group, according to reports in the Times of India. The Shriram Group initiated the process to sell a stake in Sree Jayajothi Cement which it had previously acquired a 70 per cent stake in earlier this year following the conversion of loans into equity. Private equity companies like Blackstone, Kohlberg Kravis Roberts & Co and Mount Kellet, had shown...

CRH to buy 51% in Jaypee's Gujarat units for INR21bn (US$378.9m)

24 August 2012, Published under Cement News

Irish building materials group CRH is set to pick up a controlling 51 per cent stake in the cement operations of Jaiprakash Associates in Gujarat for an enterprise value of INR42bn. CRH will also be able to increase its holding to 65 per cent over the next three years at a pre-fixed price via a call option. “CRH will have the option of picking up an additional 14 per cent from Jaiprakash Associates at the current price plus a 16 per cent annualised return or at a fair price determined ...

India: protesters ask for cement factory restart

24 August 2012, Published under Cement News

Members of the Cement Corporation of India (CCI) staged a protest outside the residence of Union Labour Minister M Mallikarjun Kharge here on Wednesday demanding that steps be taken to restart the CCI factory at Kurkunta village in Sedam Taluk. Protesters said the factory was closed down in 1998. Of the 430 workers, only 87 got their gratuity. The managing director of CCI had promised in 2010 that the unit would be restarted in a few months, but it did not happen, they added.

India's Ultratech Cement plans to raise INR2.5bn via bonds

24 August 2012, Published under Cement News

Ultratech Cement is planning to raise INR2.5bn (US$44.84m) through five-year bonds at 9.15 per cent, a source with direct knowledge of the deal said on Thursday, according to Reuters.

India: Burnpur Cement signs MOU for Patratu project

23 August 2012, Published under Cement News

Burnpur Cement Ltd (BCL), one of the largest integrated cement plants in eastern India, today signed a Memorandum of Understanding (MoU) with the Jharkhand government for setting up an 800tpd integrated cement plant at Patratu with a total investment of about INR2bn (US$36.2m). Following the signing of the MoU, the Jharkhand government formally allotted the limestone mines at Benti Bagda near Patratu Plant to BCL to start the mining activities there without delay. "The first phase of c...

India: builders protest against high cement prices

23 August 2012, Published under Cement News

In a statewide protest organised by the Builders’ Association of India, builders in Coimbatore voiced their opinions on a protest rally on Tuesday, demanding measures by the state government to bring down cement prices and calling for a regulatory cement authority to be formed at the national level. Cement prices are INR330 (US$5.98)/bag now as against INR275/bag six months ago. Though the Tamil Nadu Cements Corporation was supplying cement at INR 260/bag even now, the cement companies ha...

India: Chincholi to receive giant cement plant

21 August 2012, Published under Cement News

Shiva Shankar Minerals Limited has successfully approached the government for permission to construct a 3.5Mta cement plant on 1500 acres of land at Burigpally and Ghanapur, Chincholi Taluk. The huge cement factory and a 50MW captive power generation unit require an investment of INR22.5bn (US$405.372m). Officials added the completed factory will require 6Ml of water a day — which will have to be drawn from the Mullamari River. In addition, the plant will require 89,500kVA of power from th...

India: ABB to modernise Century Cement in US$18m order

21 August 2012, Published under Cement News

Power and automation group ABB has won an order worth US$18m to design, engineer and supply integrated automation and modern electrification systems for Century Cement’s Manikgarh Cement plant in central India. Manikgarh Cement is located in Maharastra and provides high-quality cement products for building construction, road and bridge infrastructure and other commercial uses. ABB’s delivery is part of a two-line expansion and plant modernisation project that will add 2.8Mta of cement capa...

India: “Cement factories must adhere to safety norms to check pollution”

20 August 2012, Published under Cement News

Cement factories should play a vital role in checking pollution by strictly adhering to specified norms, said D Vasudevan, former chief inspector of factories and advisor to National Safety Council-Tamil Nadu chapter. At the inauguration of a two-day training programme on ‘health and safety management in cement industries’, organised by Tiruchi sub-committee of National Safety Council on Friday, Mr Vasudevan expressed satisfaction over the strict implementation of safety norms on the cement...

Cement Corporation plans to set up Assam grinding unit, India

17 August 2012, Published under Cement News

Cement Corporation of India is planning to set up an 82,500tpa cement grinding unit in Assam. "Cement Corporation of India (CCI) proposes to establish a cement grinding unit in Baikunthapur in district of Cachar, Assam," Minister of Heavy Industries and Public Enterprises Praful Patel said. The unit is proposed to grind fly ash along with clinker to be transported from CCI's Bokajan Cement unit in Assam for producing Portland Pozzolana cement, Patel added.