Cement News tagged under: India

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Birla Corp starts trial production at Chanderia, India

21 March 2012, Published under Cement News

Birla Corporation Ltd. has commenced trial production of clinker from its 1.2Mt brownfield capacity expansion project at Chanderia in Rajasthan. The Indian Bureau of Mines has conducted an inspection and undertaken various tests regarding mining activities at Chanderia and a report has since been submitted to the Court. (Economic Research India Pvt. Ltd)

Lafarge to expand Indian operations

21 March 2012, Published under Cement News

Lafarge is expanding its operations in India but says it will do so organically and isn't considering any acquisitions at present, Chairman Bruno Lafont said Tuesday. "We will continue to grow, mostly through internal growth and by expanding our existing cement plants and growing through several greenfield plants," Lafont told reporters on the sidelines of an event. He said the company will continue with its program to increase production capacity in India by 2Mta but no completion da...

Indian government notes signs of cement sector recovery

19 March 2012, Published under Cement News

The Indian government has noted a recovery in the cement sector and announced adjustments to the excise duty in its Union Budget 2012-13. While presenting the Union Budget 2012-13 (April-March) in parliament, Pranab Mukherjee, Minister of Finance said: "Data of last quarter of 2011-12, suggests that the economy is now turning around. There are signs of recovery in coal, fertilisers, cement and electricity sectors. These are core sectors that have an impact on the entire economy. Indian ma...

Bangladesh cement exports rise

19 March 2012, Published under Cement News

Bangladesh manufacturers and exporters of cement, salt and stone have reported YoY growth of 46.33 per cent in the first eight months of FY2011-12 (July-February). Of these three items, cement accounted for the largest amount as over 200,000t is exported annually while volumes of salt and stone volumes amount to only a few thousand. According to the Export Promotion Bureau (EPB), Bangladesh's manufacturers exported US$9.76m worth of cement, salt and stone in July-February 2011-12 compared ...

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...