Cement News tagged under: India
Pakistan export earnings rise in FY12-1325 July 2013, Published under Cement NewsIn the fiscal year ending 30 June 2013, Pakistan exported 9.073Mt of cement on revenues of US$577.73m compared to 8.748Mt at US$498.84m in the corresponding period of last year. These latest figures from Pakistan’s Federal Bureau of Statistics show that export volumes rose by 3.71 per cent while in dollar value terms, they were 15.81 per cent higher compared to the comparative period a year earlier. In terms of the Pakistan rupee, exports rose by 25.23 per cent to PKR55.87bn during FY13. ... |
CRH likely to acquire Shriram Group cement business - report25 July 2013, Published under Cement NewsIrish building materials major CRH is likely to acquire the cement arm of the Shriram Group, Sree Jayajothi Cements, three sources have told the Economic Times of India. The deal is likely to be announced “soon” according to one of the sources, adding that the “enterprise value of Sree JayaJothi Cements has been pegged at around INR1500 crore.” CRH is expected to pick up the stake through its Indian unit My Home Industries, a joint venture it has operated since 2008 with the My Home Group... |
Birla Corp to establish new plant in Madhya Pradesh, India24 July 2013, Published under Cement NewsBirla Corp Ltd is planning to set up a new 2Mta cement plant in Madhya Pradesh, India. A source told local press that the company will spend INR25bn over the next three years to set up the new unit. The company will fund majority of the capital expenditure through internal accruals, the source added. Birla Corp currently has cement operations in Satna, Madhya Pradesh, Rae Bareli in Uttar Pradesh, Chanderia in Rajasthan and Durgapur in West Bengal. |
Shriram Cement confirms talks on cement unit sale23 July 2013, Published under Cement NewsIndia-based producer Shriram Cement has confirmed that it is in talks with investors over the sale of its cement business. The statement came following news reports that CRH is to buy Shriram's cement unit through its Indian joint venture, My Home Industries. Shriram said it is in discussions with a couple of potential investors, including CRH, but that no decision has been finalised to-date. |
Votorantim to sell Shree Digvijay stake to meet SEBI norm, India19 July 2013, Published under Cement NewsShree Digvijay Cement on Thursday said Votorantim Cimentos will dilute a 0.27 per cent stake in the company to meet the minimum public shareholding norm. “The promoter/promoter group intends to sell 0.27 per cent shareholding in the company amounting to 3,82,474 equity shares of the company on the floor of BSE,” the Gujarat-based cement maker said in a Bombay stock exchange filing. Shares would be offered for sale from 22 July - 2 August 2013, unless sold off earlier, it added. Cur... |
HeidelbergCement India to raise capacity further by 201719 July 2013, Published under Cement NewsHeidelbergCement India plans to more than double cement capacity by 2017 by adding some 9Mta of new volumes. The Indian arm of the German cement major has a capacity of 6Mta following the expansion of its clinker and cement grinding plants in Central India earlier this year in Madhya Pradesh and Uttar Pradesh. With the expansion of the plants, the company's cement production capacity in India has been hiked from 3.1Mta to the present 6Mta. Speaking about the next phase of investments, ... |
Madras Cements to develop beneficiation plant, India17 July 2013, Published under Cement NewsMadras Cements is developing a limestone beneficiation plant at Alathiyur in Tamil Nadu with a capacity of 400tpd. The company will set up this plant near its 3Mta cement plant at Alathiyur. The plant will help the company to upgrade cement raw material resources and extend the life of limestone mines. Once Madras Cements commissions the beneficiation unit, it will establish similar facilities at other plants, according to AV Dharmakrishnan, CEO of Madras Cements. Once the beneficia... |
Birla Corp to raise capacity to over 13Mta, India12 July 2013, Published under Cement NewsIndia's Birla Corporation plans to expand its cement capacity over the next three years involving an investment of INR25bn to raise capacity from 9.3Mta to 13.8Mta. Harsha Lodha, chairman of the Birla Corp told the Times of India: "Some of the money would be invested in the company's already announced projects like the 3Mta cement plant at Talavadi, 1.5Mta unit at Chanderia and 1Mta plant in Assam, and also in some other projects yet to be formally approved by the board." The Assam proje... |
UltraTech Cement commissions Karnataka clinker plant, India11 July 2013, Published under Cement NewsUltraTech Cement said it has commissioned its 3.3Mta clinker plant at Malkhed in Karnataka, taking capacity from 53.9Mta to 57.2Mta. The company continues to invest in new capacity to consolidate its position as India's cement market leader. In its annual report for 2012-13 (Apr-Mar), UltraTech Cement said it has already spent INR43bn of the INR114bn capital expenditure plan. By 2015 the company targets a capacity of 64.45Mta. Latest local news reports also state that the company is ... |
Indian producers forced to make 10% provision of CCI fine10 July 2013, Published under Cement NewsThe 11 cement companies fined by the Competition Commission of India (CCI) last year will be forced pay 10 per cent of the total amount levied in the June quarter of this year. The Supreme Court has instructed the companies in question to abide by the Competition Appellate Tribunal’s directive to pay 10 per cent of the INR60bn (US$1.1bn) record high fine issued for cartel practices back in June 2012. The top four cement companies — ACC, Ambuja Cements, UltraTech Cement and Jaiprakas... |