Cement News tagged under: India
Pakistan capacity utilisation drops to 10-year low06 September 2012, Published under Cement NewsCapacity utilisation of the Pakistan cement industry declined to 68.29 per cent in the first two months of the current fiscal (FY12-13), the lowest level in a decade figures from the All Pakistan Cement Manufacturers Association (APCMA) show. The drop is attributed to falls in domestic demand during July and August mainly due to Ramazana and heavy rains in the country, as well as a decline in exports. APCMA data shows that total cement dispatches were down 1.64 per cent and 2.82 per ce... |
Indian cement capacity seen reaching 349.6Mt in FY1304 September 2012, Published under Cement NewsIndian cement production capacity is expected to rise to 349.6Mt in the current fiscal year (FY13) from 336.1Mt reached in the last fiscal. "The projected demand and capacity to be created during 2012-13 are 265.4Mt and 349.6Mt, respectively," Minister of State for Commerce and Industry Jyotiraditya Scindia said in a written reply to Parliament According to the report of the working group on cement industry for the 12th Five Year Plan, the installed capacity of cement production during... |
Reliance Infrastructure set to start output from Maharashtra unit03 September 2012, Published under Cement NewsReliance Infrastructure Ltd (R-Infra) is set to begin producing cement from its grinding facility in Maharashtra this month and will sell it under the Reliance Cement brand. “We will produce cement from our grinding unit, which will start now. We will buy clinker from others and do the grinding part. We will also bag them,” said Lalit Jalan, chief executive officer of R-Infra told Business Standard. The first batch of Reliance-branded cement would be out by the end of the month. The grin... |
UltraTech on track to raise capacity by 19% next year31 August 2012, Published under Cement NewsUltraTech, India’s leading cement producer, said it will raise capacity to 62Mt by next year, according to its chairman, as he warned that the outlook for the domestic sector remains challenging. "I believe the short-term prospects for the industry appear bearish. Regardless, over the medium to long term, the sector offers good growth potential," Kumar Mangalam Birla said in a statement released after the company's annual shareholder meeting. Rising input and energy costs have been squ... |
Shree puts Karnataka project on hold, to expand Rajasthan works31 August 2012, Published under Cement NewsShree Cement has decided to put its Karnataka project on hold following issues with land acquisition and now plans to expand its Rajasthan cement works. The proposed plant, which would have been Shree Cement’s first venture outside north India, was meant to have a capacity of 6Mt. However, due to the project facing land hurdles, the company plans to expand its existing facility in Rajasthan. “We had a very good quarter. It is time to move ahead. We had plans for moving out of North In... |
Sanghi Industries swings to full year profit, India30 August 2012, Published under Cement NewsIndia-based cement producer Sanghi Industries Ltd reported a net profit in fiscal year 2011-12 compared to a loss in the previous year as margins and sales improve in the fourth quarter. The company reported a net profit of INR81.87 crore for the fiscal year ended 30 June 2012 compared to a loss of INR29.55 crore in the previous fiscal. Net sales rose 8.3 per cent to INR974.07 crore in FY11-12 compared to INR899.48 crore a year earlier. Commenting on the financial performance of the c... |
Zuari agrees to pay lump sum in L&T dispute, India28 August 2012, Published under Cement NewsZuari Cement, a subsidiary of Italian cement major Italcementi, has agreed to pay a lump sum to settle an acrimonious dispute with engineering and construction company Larsen & Toubro (L&T) over unpaid bills, the Economic Times of India reports citing sources familiar with the situation. The amount Zuari Cement is set to pay is undisclosed. Last month L&T filed for arbitration proceedings against Zuari Cement to claim INR188.5 crore in unpaid dues and payment delays. L&T alleged that Zuari ... |
Citi Venture Capital International interested in Shriram Group investment28 August 2012, Published under Cement NewsCiti Venture Capital International (CVCI) is reportedly holding talks to invest INR400crore in the cement unit of southern conglomerate Shriram Group, according to reports in the Times of India. The Shriram Group initiated the process to sell a stake in Sree Jayajothi Cement which it had previously acquired a 70 per cent stake in earlier this year following the conversion of loans into equity. Private equity companies like Blackstone, Kohlberg Kravis Roberts & Co and Mount Kellet, had shown... |
CRH to buy 51% in Jaypee's Gujarat units for INR21bn (US$378.9m)24 August 2012, Published under Cement NewsIrish building materials group CRH is set to pick up a controlling 51 per cent stake in the cement operations of Jaiprakash Associates in Gujarat for an enterprise value of INR42bn. CRH will also be able to increase its holding to 65 per cent over the next three years at a pre-fixed price via a call option. “CRH will have the option of picking up an additional 14 per cent from Jaiprakash Associates at the current price plus a 16 per cent annualised return or at a fair price determined ... |
India: protesters ask for cement factory restart24 August 2012, Published under Cement NewsMembers of the Cement Corporation of India (CCI) staged a protest outside the residence of Union Labour Minister M Mallikarjun Kharge here on Wednesday demanding that steps be taken to restart the CCI factory at Kurkunta village in Sedam Taluk. Protesters said the factory was closed down in 1998. Of the 430 workers, only 87 got their gratuity. The managing director of CCI had promised in 2010 that the unit would be restarted in a few months, but it did not happen, they added. |