Cement News tagged under: India
India: Telangana Government seeks cement price cuts17 June 2014, Published under Cement NewsOn Monday, the Telangana Government in southern India asked local cement companies to reduce prices. Chief Secretary to the Government, Rajiv Sarma, had asked the firms to rationalise the price in line with the demand. It may be noted that cement prices rose sharply after the formation of the new government in the centre and the two states and is hovering around INR280/bag (US$4.7) at present, marking an increase of INR60-80 in the last three weeks. According to sources, the industry capta... |
Lafarge and Holcim to make portfolio decisions in India16 June 2014, Published under Cement NewsHolcim Ltd and Lafarge SA may sell some assets in India to clear the competition hurdle and are considering units in Rajasthan and Chhattisgarh where the two companies have common presence. Holcim operates in India through Ambuja Cements Ltd and ACC Ltd, and Lafarge through Lafarge India Pvt Ltd. Lafarge runs units in Chhattisgarh, Jharkhand, Rajasthan and West Bengal while ACC and Ambuja Cements own integrated plants in Rajasthan and Chhattisgarh, among other places. "In states where ... |
India: UltraTech completes deal to buy Jaypee Cement13 June 2014, Published under Cement NewsJaypee Cement Corporation unit in Gujarat, India, will come into UltraTech Cement's possession following approval for the acquisition from the Bombay and Ahmedabad High Courts. The deal includes the 4.8Mta cement plant with a 57.5MW coal-based thermal power plant, limestone reserves for over 90 years and a captive jetty at Sewagram for an enterprise value of INR38000m (US$637.8m). The company has already received the approval of capital market regulator SEBI, shareholders and creditors. As... |
India: Cargotec enters partnership with Citec13 June 2014, Published under Cement NewsCargotec and Citec are forming a partnership in India, where Cargotec transfers its local engineering centre and its 110 employees in Pune to Citec. "This is a significant step for our operations in India, and it also provides great business opportunities elsewhere. We are ready to serve Cargotec proactively according to our strategic intent, with smart engineering solutions and a wide competence," says Martin Strand, CEO, Citec. Finnish-based Citec is an international multi-disciplin... |
New ACC chief executive officer appointed12 June 2014, Published under Cement NewsACC Ltd, part of the Holcim group, said on Wednesday that it had appointed Harish Badami as the chief executive officer (CEO) and managing director (MD) of the company. In a statement filed to the exchanges, the company said Mr Badami will take over from Kuldip Kaura, the incumbent CEO and MD, as of 13 August 2014 for a period of five years. ACC is India's second-largest cement producer. |
UltraTech in talks to buy further Jaiprakash assets11 June 2014, Published under Cement NewsUltraTech Cement is reportedly in talks to buy further cement assets from Jaiprakash Associates, two sources with knowledge of the matter have told local press. The talks are centred on UltraTech acquiring Jaiprakash’s Rewa complex in Madhya Pradesh, to help the latter company reduce its debt burden. Last year, UltraTech agreed to buy Jaiprakash’s cement assets in Gujarat which have a cement capacity of 4.8Mt. |
Shree plans 3Mta Odisha grinding plant, India09 June 2014, Published under Cement NewsShree Cement plans to establish a 3Mta cement grinding mill in Dhenkanal district, Odisha state. The Rajasthan-based company wants to use fly-ash generated from the nearby power plants at the cement mill. “The proposed location at Odapada would be ideal for the cement grinding unit as the ash generated from industries in the locality such as Bhushan Steel, GMR (Kamalanga), Lanco Badbandh Power and Navabharat Ventures can be effectively utilised by the proposed unit for producing cement,” sa... |
HeidelbergCement India announces appointment of chief operating officer06 June 2014, Published under Cement NewsHeidelbergCement India Ltd has informed Bombay Stock Exchange that Jamshed Naval Cooper, director (Sales & Marketing) of HeidelbergCement India Limited (HCIL) has taken over the position as chief operating officer of the company, reporting to Ashish Guha with effect from 4 June 2014. Cementrum I B.V. of Netherlands, the holding company of HCIL, has proposed the appointment of Mr Cooper as managing director of the company with effect from 1 July 2014, subject to the approval of Nomination & ... |
India: Himachal Pradesh cabinet withdraws Jaiprakash MoU30 May 2014, Published under Cement NewsThe state cabinet of Himachal Pradesh (HP) has cancelled the Memorandum of Understanding for a 2Mta cement plant planned by Jaiprakash Associate Ltd's (JAL) for failure to launch construction. The Times of India reported that the decision to withdraw the MoU, originally signed on 1 February 2007, was taken a few days ago by the Industries department. With many cement companies failing to set up their projects, the state cabinet in May last year decided to issue notices to Harish Cements, ... |
Mangalam starts production at Rajasthan unit, India29 May 2014, Published under Cement NewsMangalam Cement, part of the BK Birla Group, has started commercial production at its new cement mill in Adityanagar Morak, District Kota, Rajasthan. The 1.25Mta mill has completed trial runs and started production on 28 May 2014, the company said in a statement to the Bombay Stock Exchange. Completion of the new facility has now enhances overall cement capacity from 2Mta to 3.25Mta. The company has also been investing in increasing clinker production capabilities by 0.5Mta to take its cl... |