Cement News tagged under: India
Cochin port invites tenders for new bagging plant, India05 March 2012, Published under Cement NewsThe Cochin Port Trust (CPT), India, has invited tenders for the establishment of a cement bagging plant, the Times of India reports. The port will lease six acres of land for a period of 30 years near the Q5 berth at Ernkaulam Wharf for the new plant. The berth has a draft of 10 meters and rail tracks pass very close to it. The new plant is set to become operational in two years, a port spokesman told the newspaper. Ambuja Cement already operates a bagging plant in the port area while... |
Jaiprakash to hive off cement company, India28 February 2012, Published under Cement NewsJaiprakash Associates will hive off its cement plants and other units of the company to wholly-owned subsidiary, Jaypee Cement Corporation, the Economic Times of India reports. "We are pleased to inform that the equity shareholders and creditors of the company, in their respective meetings held on February 25, have duly approved the scheme of arrangement," Jaiprakash Associates said in a statement to the Bombay Stock Exchange (BSE). Cement is one of the major businesses of Jaiprakash Asso... |
Pakistan cement exports forecast to grow27 February 2012, Published under Cement NewsPakistan cement exports in the first seven months (July 2011-January 2012) of the current fiscal year fell in terms of quantity but gained in price by US$4.33/t, data by the Pakistan Bureau of Statistics shows. The industry expects dispatches to Afghanistan and India to grow in the remaining months of the year. In the first seven months, exports amounted to 4.087Mt of cement and earned US$258.190m compared to 5.196Mt at US$256.618m in the corresponding period of last year. This represent... |
Jefferies starts India cement coverage24 February 2012, Published under Cement NewsJefferies has initiated coverage on the Indian cement industry with a buy rating on ACC, Grasim Industries, India Cements, UltraTech Cement, and hold rating on Ambuja Cements. "We believe India Cements has the highest earnings upside from both volume and price surprises.... Among the large caps, Ultratech looks the best positioned without a significant exposure to south," said Jefferies in a report on Thursday. The house says that it expects the next few years to be good for the cement... |
Indian cement importers meet Pakistan exporters22 February 2012, Published under Cement NewsAn Indian trade delegation of over 120 business people, government officials and members of Federation of Indian Chambers of Commerce and Industry (FICCI) including cement importers visited Pakistan last week to make head way on Most Favoured Nation (MFN) status to India and further enhance bilateral trade relations between the two countries. The Indian delegation was led by Anand Sharma, Minister of Commerce & Industry, Government of India. On the sidelines of visits, a group of Indian ce... |
India January cement dispatches up 9.4%22 February 2012, Published under Cement NewsIndian cement dispatches during January 2012 increased by 9.4 per cent – the third straight month of high growth due to a low base effect (January 2011: +1.1 per cent). Dispatches in January 2012 reached 220.4Mt compared to 18.6Mt in the year-ago period. Cement production rose 10.6 per cent to 20.6Mt, according to figures from the Cement Manufacturers Association of India and Holcim. For the April-December 2011 period, demand rose 17 per cent in th western market, 10 per cent in the north... |
Shriram EPC to enter cement business through acquisition21 February 2012, Published under Cement NewsShriram EPC, part of the financial services major Shriram Group, is expected to enter the Indian cement sector by picking up a majority stake in Sree Jayajothi Cement, according to local press reports. Should the move be approved, Cimpor is thought to be in line as the group seeks a strategic European investor. Shriram EPC's board is said to have approved acquiring a significant equity share capital of the cement producer by partially converting the dues owned by Sree Jayajothi into equit... |
India: Jaypee Cement comes to city15 February 2012, Published under Cement NewsJaypee Group this week launched its brand Jaypee Cement in Hyderabad with the creation of a wide network to make the cement available state-wide through more than 1100 dealers. With an installed capacity of over 31Mta from 24 cement plants across the country, Jaypee is set to increase its cement capacity to 36Mta with forays in the state of Hyderabad and a new cement plant in Krishna district. “We are third largest cement manufacturer in the country and the new plant in Krishna district ... |
Jaiprakash Associates 3Q net profit down 12%15 February 2012, Published under Cement NewsJaiprakash Associates' net profit fell by 12% to INR2.05bn (US$41.6m) in the third quarter of the current fiscal, mainly on higher interest outgoings. The diversified company, having interest in cement, real estate, construction and power among others, had made INR2.33bn net profit during the October-December quarter of last fiscal, it said in a filing to the BSE today. "The EBIDTA for the quarter is higher by INR860m over the corresponding quarter of previous year. However, due to high... |
Pakistan: FY12 cement sales helped by local dispatches14 February 2012, Published under Cement NewsFY12 has been witnessing a drop in Pakistan’s export sales, whereas domestic cement dispatches have been rising. The latest numbers released by the All Pakistan Cement Manufacturers Association (APCMA) up until January FY12 show a continuation of this trend. Local dispatches improved by 7% YoY from 12Mt in 7MFY11, while during January 2012 alone, local deliveries improved by nearly 9% to 1.9Mt versus January 2011. While the surge in local sales was witnessed in both the northern and sou... |