Cement News tagged under: India

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Ambuja Cements investment update, India

16 March 2012, Published under Cement News

Ambuja Cements, part of the Holcim Group, plans to invest INR18bn (US$358m) by December 2013 to increase capacity. The investment will be funded through internal accruals. As of the quarter ended December 31, the company had a cash surplus of INR77bn, India Investment News reports. The Indian cement major plans to establish a 2.2Mta clinker plant at Naguar in Rajasthan, for which a feasibility study has been completed and environmental clearance obtained. Ambuja Cement has also initiat...

Jaiprakash Power Ventures to enter cement business, India

16 March 2012, Published under Cement News

Jaiprakash Power Ventures Ltd has planned to raise up to INR3500 crore to fund its expansion projects and is also entering the cement sector. Its board of directors has authorised raising of funds/resources through various domestic / international options. The funds are to meet the company’s ongoing projects and/or the projects of its joint venture and subsidiary companies as also issuance of further equity shares under institutional placement programme. The company has also decided to...

Fitch rates Rain Commodities at 'Fitch A-(ind)'; outlook stable

15 March 2012, Published under Cement News

Fitch Ratings has assigned India's Rain Commodities Limited (RCOL) a National Long-Term rating of 'Fitch A-(ind)'. The Outlook is Stable. However, ratings are constrained by volatility in cement prices and sector overcapacity. Fitch has taken a consolidated view of RCOL's cement and calcining businesses, both operated by its subsidiaries, for the rating purpose. While India's Rain Cement Ltd ('Fitch A-(ind)'/ Stable) holds the cement operations, RCOL's calcining business is operated in I...

India reports rise dispatches

14 March 2012, Published under Cement News

Indian cement dispatches registered 16.29Mt in February 2012, an increase of 9.8 per cent on February 2011, data from the Cement Manufacturers Association (CMA), shows. In terms of month on month (MoM) growth, February dispatches edged ahead to 16.29Mt from 16.25Mt in January 2012. Production, meanwhile, reached 16.21Mt last month, representing an 8.9 per cent YoY increase (14.89Mt in Feb 2011). On a MoM basis, production slipped to 16.21Mt in February 2012 from 16.45Mt in January 2012. ...

Grasim appoints managing director, India

08 March 2012, Published under Cement News

The Aditya Birla Group of India on Tuesday appointed KK Maheshwari as managing director of Grasim Industries as the company prepares to grow its businesses in India and overseas. Maheshwari, who has been whole-time director of Grasim until now will assume charge as MD immediately, a post created for the first time in the history of the 65 year old company. "The Grasim board decided to have a managing director to assist the chairman in implementing growth plans for the company," Maheshwari ...

Shriram EPC to buy 68% stake in Jayajothi Cement, India

07 March 2012, Published under Cement News

Shriram EPC confirmed it would buy a 68 per cent stake in Sree Jayajothi Cements Ltd, along with its group companies, reports the Business Standard of India. The acquisition will be carried out by Shriram EPC and a special purpose vehicle floated by other Shriram Group companies. Last month the paper reported that the Shriram Group was planning to acquire a stake in the Andhra Pradesh-based cement producer by converting its dues into equity. Speaking to Business Standard, Shriram EPC m...

Ambuja production rises 11.28%, India

05 March 2012, Published under Cement News

Ambuja Cements reported an 11.28 per cent rise in production in February 2012 to 1.99Mt from 1.79Mt in February 2011. Meanwhile, dispatches reached 2Mt compared with 1.77Mt the year before, representing a rise of 12.74 per cent. For the first two months of the current calendar year, cement production and dispatches were 3.9Mt and 3.92Mt, respectively compared with 3.64Mt and 3.61Mt in the same period of 2011.

Mangalam Cement grinding plant project order, India

05 March 2012, Published under Cement News

For its new cement grinding plant, Mangalam Cement Ltd. selected a grinding system from ThyssenKrupp Polysius.   The new grinding plant is to be installed in Aligarh near New Delhi in the Indian state of Uttar Pradesh. It is to be a combi-grinding system consisting of POLYCOM high-pressure grinding roll with two 1060kW drive units, a SEPOL-PC high-efficiency separator and a 3.6m x 8m ball mill with a drive power of 1300kW. The grinding plant will have a rated cement output of 150tph.

Cochin port invites tenders for new bagging plant, India

05 March 2012, Published under Cement News

The Cochin Port Trust (CPT), India, has invited tenders for the establishment of a cement bagging plant, the Times of India reports. The port will lease six acres of land for a period of 30 years near the Q5 berth at Ernkaulam Wharf for the new plant.  The berth has a draft of 10 meters and rail tracks pass very close to it. The new plant is set to become operational in two years, a port spokesman told the newspaper. Ambuja Cement already operates a bagging plant in the port area while...

Jaiprakash to hive off cement company, India

28 February 2012, Published under Cement News

Jaiprakash Associates will hive off its cement plants and other units of the company to wholly-owned subsidiary, Jaypee Cement Corporation, the Economic Times of India reports. "We are pleased to inform that the equity shareholders and creditors of the company, in their respective meetings held on February 25, have duly approved the scheme of arrangement," Jaiprakash Associates said in a statement to the Bombay Stock Exchange (BSE). Cement is one of the major businesses of Jaiprakash Asso...