Cement News tagged under: India
Indian producers directed to pay 10% of CCI penalty17 May 2013, Published under Cement NewsIndia’s Competition Appellate Tribunal has said that cement companies must pay 10 per cent of the INR6307 crore penalty issued to them by the Competition Commission of India (CCI) for cartel practices. Passing an interim order, a COMPAT bench headed by its chairman Justice VS Sirpurkar asked the 11 producers in question along with the Cement Manufacturers Association to pay around INR630 crore within a month, according to reports by the Press Trust of India. The matter is scheduled for a ... |
JKCL cement plant set for July completion, India17 May 2013, Published under Cement NewsA cement grinding plant being constructed by Jammu and Kashmir Cements Ltd (JKCL) in northern India is set for completion in July, the state government has said. Sajad Ahmed Kichloo, Minister for Industries and Commerce, recently toured the state-owned JKCL site where work continues on the 300tpd grinding plant and associated packing facilities. After visiting all sections of the plant, the Minister expressed satisfaction on project work to-date. The grinding plant is being is being se... |
Lafarge raises EUR200m to accelerate its development in India15 May 2013, Published under Cement NewsLafarge SA signed an agreement to raise €200m through capital increase subscribed by Baring Private Equity Asia, and representing a 14 per cent minority stake in its Indian subsidiary, Lafarge India Private Ltd. This transaction, which is subject to the approval of local regulatory authorities, will accelerate Lafarge's growth plans in India in all its product lines: Cement, Aggregates and Concrete. Lafarge entered the Indian market in 1999 through its cement business and currently ope... |
Sanghi Industries' 3Q benefits from extended sales reach14 May 2013, Published under Cement NewsSanghi Industries Ltd has posted a 234 per cent jump in net profit as the Gujarat-based producer increases its geographical sales spread and implements a number of cost-saving measures. Net profit for the third quarter ended 31 March 2013 reached INR419m compared to INR125m for the same quarter in previous financial year. Net sales in the 3QFY12-13 were INR2981m, almost on a par with the INR2971m recording in the 3Q of the previous year. For the nine months of current financial year, pro... |
Pakistan 10-month dispatches rise 4.09%13 May 2013, Published under Cement NewsPakistan cement dispatches rose by 4.09 per cent in the first 10 months of the current fiscal, the latest data from the All Pakistan Cement Manufacturers Association (APCMA) shows. Dispatches for the 10 months to April 2013 reached 27.664Mt compared to 26.576Mt during the same period of the previous year. Domestic sales accounted for 21Mt, representing a 6.03 per cent YoY increase. In April 2013 alone, the industry dispatched 3.123Mt, 3.8 per cent higher than April 2012 dispatches. How... |
Mangalam Cement to begin upgrade of Kiln Line 1, India09 May 2013, Published under Cement NewsMangalam Cement has halted operations of its Kiln Line 1 to upgrade its clinker manufacturing capacity, the company has informed the Bombay Stock Exchange. The cement producer stopped operations on 6 May so it can hike capacity by 0.5Mta. The project is likely to be completed by the end of the second quarter of FY14. It noted that supplies will be sufficient in the interim as it has clinker in stock. Mangalam Cement operates one cement plant Morak, Distt. Kota in Rajasthan with a capacity ... |
Himachal Pradesh gives Reliance Cement green light for new cement works09 May 2013, Published under Cement NewsThe Himachal Pradesh government has given Reliance Cement the green light to set up a new cement plant in the north Indian state. It has also served notices to four cement plants for failing to set up cement plants despite the government having granted approval some years ago. The cabinet, headed by Chief Minister Virbhadra Singh, took the decision to issue notices to Jaiprakash Associates Ltd, Lafarge India Pvt Ltd, Grasim Cements Ltd's subsidiary Harish Cement Ltd and India Cement Ltd,... |
Lanco Industries withdraw proposal for Andhra Pradesh plant, India07 May 2013, Published under Cement NewsLanco Industries has withdrawn its proposal to establish a 0.3Mta mini cement plant in Andhra Pradesh, India. The decision was made after the company reviewed the current market situation in the southeastern state. In a filing to the Bombay Stock Exchange, Lanco Industries stated: "Considering the present market scenario of cement in Andhra Pradesh, the proposal for setting up of mini cement plant of 3,00,000tpa, with rotary kiln, with an estimated capital outlay of INR125 crore, has been... |
Tax write back boosts ACC and Ambuja Cements 1Q, India06 May 2013, Published under Cement NewsHolcim's Indian cement interests, ACC and Ambuja Cements, managed to post an improved first-quarter performance YoY despite a decline in sales, largely due to a writeback of income-tax provisions during the March quarter and an additional depreciation recognised for the March quarter last year. Both companies, in which the Swiss major holds a 50.3 per cent stake each, follow the calendar year (Jan-Dec) as their financial reporting year. India's number two cement producer, ACC, poste... |
Pakistan nine-month exports volumes slip30 April 2013, Published under Cement NewsPakistan exported 6.22Mt of cement in the first nine months of FY12-13 earning US$421.12m, compared to 6.245Mt at US$342.95m in the same period of last year. This shows that exports fell by 0.39 per cent in terms of volume but were up by 22.79 per cent in terms of dollar value, according to data released by Pakistan’s Federal Bureau of Statistics. In terms of the Pakistan rupee, cement exports rose by 33.66 per cent to PKR40.46bn during the July-March FY2013 period. The average export p... |