Cement News tagged under: India
Merrill Lynch increases stake in Rain Commodities, India16 May 2012, Published under Cement NewsHong Kong-based Merrill Lynch Capital Markets Esparia on Tuesday announced acquiring 90,000 shares of Rain Commodities, the Economic Times of India reports. The foreign fund house currently holds 4.99% in the Hyderabad-based company and the fresh acquisition constitutes 0.03% of additional stake. Following this, Merrill Lynch's total holding in Rain Commodities crosses the threshold limit of 5%, reaching 5.02%. |
FLSmidth affirms 2012 outlook15 May 2012, Published under Cement NewsFLSmidth has affirmed its outlook for full-year 2012 as a strong order intake in 1Q confirms growth expectations and positive outlook. For the first three months of 2012, FLSmidth’s order intake increased 29% to DKK6421m and revenue increased 17% to DKK5145m. EBITDA rose 10% to DKK 469m. The profit for the period increased 39% to DKK 241m In terms of its cement division, the company said 1Q12 saw a very strong order intake of DKK 1,415m representing an increase of 169% compared to 1Q1... |
Tamil Nadu government to invest in state plants, India15 May 2012, Published under Cement NewsThe Tamil Nadu government is to upgrade two of its cement plants with an investment of around of INR515 crore. The Business Standard of India reports that the state government is to invest INR165 crore in the Alangulam cement plant. Orders have also been issued to appoint a project management consultant to increase the production of the Ariyalur cement plant to 1.5Mta from the current 500,000t. Investment for the proposed expansion would be around INR 350 crore, according to the state ind... |
India April output slows14 May 2012, Published under Cement NewsIndia's cement production in April rose 9.5% on year to 15.99Mt, the Cement Manufacturers' Association said today. Output during April, however, was 11.1% lower than 17.99Mt produced a month ago. Cement despatches in April rose 7.6% YoY to 15.48Mt, the association said. India's cement production in 2011-12 (Apr-Mar) had increased 6.3% to 179.79Mt and despatches rose 6.5% to 178.9Mt. Cement sales seems to have slowed down in April due to labour shortage and lack of demand fr... |
Chettinad plans to delist, India11 May 2012, Published under Cement NewsThe promoters of Chettinad Cement Corporation are making a voluntary offer to the company's public shareholders to delist the shares from stock exchanges. The stock is currently listed on the National Stock Exchange and Madras Stock Exchange and in the permitted securities category of the Bombay Stock Exchange. The board is meeting on Tuesday to consider the delisting proposal, the Economic Times of India reports. The promoters of Chettinad Cement hold a large 88.4% stake in the compan... |
Indian cement sector turns to US high-sulphur coal07 May 2012, Published under Cement NewsShree Cement and Ultratech have taken one cargo of US high-sulphur coal, with others set to follow suit, as the Indian cement sector seeks a cheaper alternative to the increasingly scarce petcoke. India's coal imports are set to grow rapidly to over 100Mt of thermal coal this year, most of it from Indonesia and South Africa destined for power generators. The cement sector is a smaller but significant consumer of imports. Some Indian end-users are likely to turn to the very high-sulphur Ill... |
RNB capex completed, India07 May 2012, Published under Cement NewsRNB Cements completed its cement manufacturing expansion from 600tpd to 1200tpd at Barapani Industrial Area, district Ri Bhoi, Meghalaya. Civil work and machinery erection have been completed. Pre-commissioning activities are in progress and the project is scheduled for commissioning in May 2012. |
Heidelberg expands capacity, India07 May 2012, Published under Cement NewsHeidelbergCement India is expanding the manufacturing capacity of cement from 0.8Mta to 2.5Mta in Jhansi, Uttar Pradesh. Civil work is nearing completion and the project is scheduled for completion in July 2012. |
Shalivahana to build new 2.6Mta plant, India07 May 2012, Published under Cement NewsShalivahana Cement Industries is planning to build an integrated cement project at Chincholi, district Adilabad, Andhra Pradesh. The project will consist of a 2.6Mta cement manufacturing project and a 60-70 MW coal-based power plant. Work on the project is expected to commence in October 2012 and is planned for completion in 2014. |
ACC, Ambuja see spurt in cement production in April04 May 2012, Published under Cement NewsLeading cement producers ACC and Ambuja Cement reported the growth in cement production for the month of April 2012. ACC and Ambuja Cements reported the production at 2.17Mt and 1.91Mt, respectively, in their separate filings to the Bombay Stock Exchange. During the year ago period, ACC and Ambuja had reported the production at 2.06Mt and 1.81Mt, respectively. Besides, the dispatches at the two companies also inched up during the quarter. ACC reported the dispatches at 2.0Mt during the mo... |