Cement News tagged under: India
India: industry targets 25% TSR by 203012 August 2013, Published under Cement NewsThe Indian cement industry is failing to realise the potential for alternative fuels and raw material utilisation (AFR), but resolves to raise the thermal substitution rate (TSR) to 25 per cent by 2030, from the current level of less than one per cent. This was the conclusion of a two-day conference on co-processing in cement plants, convened by the Washington-based Institute for Industrial Productivity (IIP) and the Cement Manufacturers’ Association (CMA) of India. In his introductory... |
CRH to acquire Sree Jayajothi Cements, India12 August 2013, Published under Cement NewsCRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR70m). CRH’s equity interest will amount to approximately EUR35m. With the addition of SJCL, MHIL b... |
Star Cement exports clinker to Bangladesh via river route12 August 2013, Published under Cement NewsIndia-based Star Cement said it has dispatched its first barge of clinker to Bangladesh via river. The company is aiming to export over 50,000t of clinker to Bangladesh every month using the riverine route, the Meghalaya Times reported its President (Sales & Marketing), Jyoti Swaroop Agarwal, as saying. In a pilot project Star Cement had started clinker export to Bangladesh last year by road and now it has started to export by river. "We believe that this mode of logistics will definitely b... |
Ramco eyes Myanmar plant construction09 August 2013, Published under Cement NewsIndia-based Ramco is planning to set up a cement factory in Myanmar. “Our company has been jointly working with Agro Coro International Pte Ltd to import cements from Ramco for six months. We are now in discussions with respective officials to establish the factory,” a source told local press. Interest in Myamnar’s cement industry has been increasing as the country opens up to the world after 50 years of military rule into a newly-born democracy. Currently there are 14 cement plants and 25... |
Kesoram Industries to construct 3Mta plant in Maharashtra, India05 August 2013, Published under Cement NewsKesoram Industries, part of the BK Birla Group, is to establish a 3Mta cement plant in Solapur in the state of Maharashtra. “The Solapur cement plant is a two-stage project. In phase 1, we are setting up a 1.5Mta grinding capacity,” Arvind Kumar Singh, CEO (business operations) of Kesoram Industries told the Telegraph of India. This phase is expected to begin operations within 18-20 months. Kesoram currently operates two plants in the states of Karnataka and Andhra Pradesh with a combined... |
Jaiprakash Associates downgraded, India31 July 2013, Published under Cement NewsTwo brokerages have downgraded Jaiprakash Associates Ltd, days after Deutsche Bank also cut its ratings and earnings estimates for the India-based cement producer. Morgan Stanley has downgraded Jaiprakash to "equal-weight" from "overweight", citing worsening headwinds for cement profitability, a reduced likelihood of the Reserve Bank of India (RBI) cutting interest rates and a lack of asset sales so far to meaningfully reduce debt levels. Citigroup, meanwhile, has cuts the company to "... |
UltraTech first quarter hit by building slowdown30 July 2013, Published under Cement NewsUltraTech Cement, India's largest cement producer, posted a 13.5 per cent YoY decline in its first quarter (April-June 2013), due to slowdown in home building and infrastructure projects. The Aditya Birla group company reported standalone profit of INR6.73bn (US$112.3m) for the April-June quarter. Net sales also declined 2.2 per cent to INR49.58bn. Going forward, Kumar Mangalam Birla, chairman of the group, said the business outlook remained challenging and the company has downwardly re... |
Madras Cement quarterly net profit down 44%30 July 2013, Published under Cement NewsMadras Cement’s net profit for the first quarter of 2013-14 dropped by 44 per cent compared to the corresponding quarter of last year. Net profit for the quarter ended 30 June 2013, stood at INR68.85 crore on a total income of INR 987.18 crore. Expenditure rose by 11 per cent to INR839.70 crore. The company has deposited INR25.86 crore, which is 10 per cent of the penalty levied by the Competition Commission of India for alleged cartelisation, pending final judgment, the release s... |
HeidelbergCement India notes INR80m 1Q13-14 loss29 July 2013, Published under Cement NewsHigher input costs as well as a rise in fuel and power costs pushed HeidelbergCement’s Indian subsidiary into the red. The company reported a loss of INR79.5m (US$1.34m) for the first quarter ended 30 June 2013 in a BSE filing. In the equivalent quarter of last financial year, the firm had reported a INR192.7m net profit. However, HeidelbergCement India saw 1QFY12-13 income from operation rise to INR3.668bn from INR3.0744bn in 1QFY12-13. Meanwhile, total expenses shot up from INR2.7... |
Holcim streamlines Indian operations25 July 2013, Published under Cement NewsHolcim is to increase its shareholding in Ambuja Cements as part of the Swiss major's strategy to restructure and streamline its operations in India. Through intragroup restructuring, Holcim will increase its shareholding in Ambuja Cements to 61.39 per cent and Ambuja in turn will acquire Holcim’s 50.01 per cent stake in ACC Ltd. Both Ambuja and ACC will continue to operate as separate entities with their own brands and go-to-market strategies. Holcim said the restructuring “will allow for... |