Cement News tagged under: India
UltraTech director elected as new CMA president10 January 2014, Published under Cement NewsMr OP Puranmalka, Ultratech Cements whole-time director, has been elected as the new president of the Cement Manufacturers' Association (CMA) of India for the 2013-14 term. Mr Puranmalka will replace MAMR Muthiah of Chettinad Cement, CMA said in a release today. JK Lakshmi Cement whole-time director, Shailendra Chouksey, has been elected as the Vice-President of the 51-year old industry body. Speaking at the CMA's 52nd AGM, Mr Puranmalka raised concerns over the lag in the industry,... |
Pakistan exports fall in 5MFY1307 January 2014, Published under Cement NewsDuring the first five months of FY13-14, Pakistan exported 3.749Mt of cement on foreign exchange revenues of US$225.30m, down 0.44 and 8.03 per cent YoY in terms of volume and value, respectively. However, on a more positive note, in local currency terms, Pakistan producers and exporters saw growth of 0.93 per cent to PKR23.48bn. The average price fell 7.63 per cent to 7.63 per cent to US$60.09/t from US$65.05/t in the same five months of the previous fiscal. According to Pakistan’s B... |
Zuari Cement’s commitment to India’s long-term potential06 January 2014, Published under Cement NewsZuari Cement is pressing ahead with new capacity plans in three Indian states despite current market challenges, citing huge long-term potential for domestic cement consumption. The Italcementi group company is setting up a grinding unit in Auj and Shingadgaon in Solapur (Maharashtra), a terminal in Kochi (Kerala) and a 3Mta integrated cement plant in Gulbarga (Karnataka). “The INR2500-crore capacity augmentation will go on in spite of the tough market conditions now, as we believe that ... |
HeidelbergCement completes the sale of Raigad grinding unit06 January 2014, Published under Cement NewsHeidelbergCement India has completed the sale and transfer of its cement grinding facility situated at Raigad in state of Maharashtra to JSW Steel, as a going concern on slump sale basis. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products. |
Indian cement recovery under pressure in 201431 December 2013, Published under Cement NewsIndian cement sales in 2014 are expected to remain under pressure on the back of slower government spending as fiscal deficit concerns mount, and a slow recovery in the capital expenditure cycle by private firms, according to a report by Mint (India). At the same time, higher costs may continue to weigh on the profitability of cement makers in the coming year. Analysts expect cement sales growth to improve only marginally to 6.5% next year compared to 4-5% in the current fiscal year, the re... |
Pakistani cement exports to India down 11%27 December 2013, Published under Cement NewsPakistan’s cement exports to India posted a fall of 11 per cent during Jul-Nov of this fiscal year compared to the same period last fiscal year, according to the Pakistani Business Recorder. Industry sources said non-tariff barriers are hampering cement export to India, which fell from 183,400t to 163,500t over the five months. Pakistan’s overall cement exports fell by three per cent to 3.5Mt. Currently, the country’s cement producers export around 25 per cent of total production. |
India’s EAC gives UltraTech green light for Tamil Nadu works27 December 2013, Published under Cement NewsUltraTech Cement has been given the go-ahead by the Expert Appraisal Committee (EAC) on its 5.5Mta cement works and a 75MW captive power plant in the Karur and Dindigul districts of Tamil Nadu, India. The new dry-process works will be built with preheater and precalciner technology on a 136ha site and represents an investment of INR25bn. It will source its 6.7Mta requirement of limestone in Grasim Industries’ Thennilai quarry while 0.525Mta petcoke will be procured from Reliance Industri... |
CCI approves UltraTech acquisition of Jaypee’s Gujarat assets24 December 2013, Published under Cement NewsThe Competition Commission of India (CCI) has given UltraTech Cement the green light to purchase Jaypee's cement facilities in Gujarat. The CCI order, released on Monday, said that the “proposed combination is not likely to have an appreciable adverse effect on competition in India". The deal, which was announced in September this year, will strengthen UltraTech's leading position in the Indian market and give it a foothold in the state of Gujarat. The acquisition comprises an integrated c... |
Star Ferro to consolidate cement operations, India24 December 2013, Published under Cement NewsStar Ferro and Cement Ltd plans to demerge its cement and ferro alloy divisions and consolidate its cement business under its subsidiary Cement Manufacturing Co Ltd, Sajjan Bhajanka, promoter and director of the company, has said. Star Ferro and Cement currently holds 70 per cent in Cement Manufacturing Co. "Star Ferro and Cement will cease to exist. We will rename it as Shyam Century Ferros Ltd. The cement operations will go to Cement Manufacturing Co Ltd," Bhajanka told Cogencis in ... |
CCI clears JSW Steel acquisition of Heidelberg plant17 December 2013, Published under Cement NewsThe Competition Commission of India (CCI) has approved the acquisition of HeidelbergCement India's grinding facility at Raigad, Maharashtra, by JSW Steel. JSW Steel announced back in October its intention of acquiring the 0.6Mta grinding works. "Considering the facts on record and the details provided in the notice (under relevant Section of the Competition Act) ...the Commission is of the opinion that the proposed combination is not likely to have appreciable adverse effect on competi... |