Cement News tagged under: India

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Dalmia Bharat joins the Holcim India race

03 May 2022, Published under Cement News

Dalmia Bharat Ltd is reportedly planning to bid for Holcim’s India businesses. According to sources close to Dalmia, the company is in talks with banks to secure financing for the bid which would add almost 65Mta of capacity to Dalmia’s existing 35Mta.    UltraTech Cement, part of the Aditya Birla Group, is also planning to join the race for the Holcim assets - ACC Ltd and Gujarat Ambuja Ltd – but is concerned that its current capacity of almost 120Mta may come up against resistance fro...

UltraTechCement Ltd reports consolidated sales of INR155bn in 4QFY21-22

02 May 2022, Published under Cement News

UltraTech Cement Ltd has announced its financial results for the 4QFY21-22 and year ended 31   March 2022. The company reported consolidated net sales of INR155,570m (US$2035m) in the 4QFY21-22 versus 142,320m over the corresponding period of the previous year. Profit before interest, depreciation and tax in the 4QFY21-22 was INR31,650m compared to INR37,510m in the corresponding period of the previous year. Normalised profit after tax was INR14780m in the 4QFY21-22 compared t...

JSW Group joins the race for Holcim in India

02 May 2022, Published under Cement News

The race for the acquisition of a controlling stake in Holcim Group’s cement businesses in India is intensifying, with JSW Group lining up an array of private equity firms and lenders to fund the deal. The move follows a similar arrangement by the Adani Group, helmed by billionaire Gautam Adani, which is also in discussions with a number of global lenders. JSW Group has reportedly received assurances for funds of up to US$11bn from PE firms and lenders, including American PE major Carlyle...

Ramco Cements Ltd completes WHRS at Jayanthipuram plant

27 April 2022, Published under Cement News

The Ramco Cements Ltd has invested in the waste heat recovery system (WHRS) for power generation in all the three lines of its Jayanthipuram cement plant. The last leg of the preheater was commissioned on 16 April 2022. With this, the 27MW WHRS has been fully commissioned at the plant. Further, "we are set to commission company's fifth integrated cement plant at Kolumigundla, Kurnool district, Andhra Pradesh together with 12.15MW of WHRS. The overall capacity of company's WHRS will in...

Aditya Birla Group will consider buying Holcim's Indian assets

26 April 2022, Published under Cement News

Kumar Mangalam Birla, chairperson of Aditya Birla, is reportedly looking at ways to make a bid for ACC Ltd and Ambuja Cements that Holcim intends to divest, according to The Economic Times. UltraTech Cement ( Aditya Birla Group ) may look to expand its leading position in the market as any producer that picks up the Holcim assets in India will automatically become a contender to UltraTech Cement , as Holcim is the second-largest player in the Indian cement sector. However, analysts bel...

JSW Group in discussions to raise funds to bid for Holcim's Indian operations

22 April 2022, Published under Cement News

Sajjan Jindal-led JSW Group has initiated discussions with private equity (PE) firm Carlyle to join forces and back its bid for Holcim ’s Indian cement operations, said people aware of the matter.   Holcim Group is reputedly looking to exit India 17 years after its entry, putting its twin listed arms of Ambuja Cements  and ACC Ltd up for sale as part of a global strategy to focus on core markets.   JSW, one of the strong contenders for the acquisition, is busy organising b...

Cement prices in India face further rise

21 April 2022, Published under Cement News

Following the price rise of imported coal, petcoke and crude oil due to the Russia-Ukraine war, cement prices in India are expected to increase by 6-13 per cent. In the last six months, coal and petcoke prices have surged by 30-50 per cent, according to industry sources. A report by Indian analysts CRISIL, domestic cement prices are expected to advance a further INR25-50/bag in April as producers start to pass on rising costs to consumers. This follows a rise to INR390/bag in the past 12 m...

Tamil Nadu Cement orders 10MW solar power plant

21 April 2022, Published under Cement News

Tamil Nadu Cement Corp Ltd   will be setting up a 10MW solar power plant at an outlay of INR650m (US$8.52m) for captive use, said Minister for Industries, Thangam Thennarasu. As per the Policy Note presented in the Assembly by Mr Thennarasu for 2022-23, Tamil Nadu Cement will construct the solar plant at its   Alangulam cement plant.  The company is also planning to install an alternate fuel feeding system at a cost of INR300m at the new Ariyalur cement plant.

Kanodia Cement completes Amethi grinding plant expansion

20 April 2022, Published under Cement News

Kanodia Cement has set up a new cement grinding unit at its Amethi plant, India. The grinding expansion is already completed and production began in April 2022. All four of the company’s cement grinding units are fully automated. Vishal Kanodia, managing director, Kanodia Cement, said that the Amethi expansion is part of the company’s strategy to increase its total cement capacity to 4.3Mta. “We are optimistic about the growth in demand for cement in India. The set-up of our Amethi...

Holcim reported to be looking for potential buyers of ACC Ltd

19 April 2022, Published under Cement News

Bloomberg has reported on Holcim proposing to dispose of Ambuja Cements Ltd. Holcim owns ACC Ltd and Ambuja Cements in India. With approximately 64Mta of cement capacity it is second-largest producer behind UltraTech Cement in the country. The Swiss conglomerate is believed to have held early-stage negotiations with JSW and Adani Group, among others, to explore their interest levels, according the Economic Times. Deliberations are in the early stages and may not lead to a transaction, ...