Cement News tagged under: Indian sub-continent
High Court orders removal of Birla Corp director21 September 2020, Published under Cement NewsIndia’s Calcutta High Court has restricted Harsh Vardhan Lodha from holding any position in MP Birla Group companies with immediate effect. As a result, he will no longer be the chairman of Birla Corp Ltd. The decision will reportedly be appealed by the company, according to the Business Standard. "Shareholders elected Harsh Varshan Lodha as a director of Birla Corp with an overwhelming majority of 98 per cent. Mr Lodha being otherwise not disqualified from holding the office of director... |
Sri Lanka cement production and imports see sharp rise in June16 September 2020, Published under Cement NewsSri Lanka's cement production and imports recovered in June by 42.6 per cent YoY, according to Central Bank data. In June cement imports also grew by a record 58.9 per cent YoY to reach 404,000Mt, overtaking domestic cement production, which increased by 28.3 per cent YoY to reach 370,000Mt. June was the first month of this year to record a positive growth in cement imports. Sri Lanka’s domestic cement production and imports had fallen by over 40 per cent YoY since March this year. In ... |
Bestway reports 31% drop in FY19-20 turnover16 September 2020, Published under Cement NewsPakistan-based Bestway Cement reported a gross turnover of PKR63.7bn (US$383.4m) in the financial year ended 30 June 2020, down 19 per cent YoY when compared with PKR79bn in FY18-19. Net turnover fell 31 per cent from PKR53.6bn to PKR37.1bn. Gross profit for the year decline from PKR16bn in FY18-19 to PKR1.1bn in FY19-20. Profit after tax dwindled to PKR0.5bn from PKR10.1bn in the previous financial year. The declining results have been attributed by a significant drop in prices, a substan... |
Ramco Cements installs new 9MW WHR unit14 September 2020, Published under Cement NewsIndia’s Ramco Cements has commissioned a 9MW waste heat recovery unit at its Jayanthipuram cement plant in Andhra Pradesh. Two more 9MW waste heat recovery systems are being installed at Jayanthipuram and are expected be commissioned in the coming months. "The installation of waste heat recovery systems in our plants will help us reduce the power cost. Besides savings in power cost, it also reduces CO 2 emission substantially, which will have a positive impact on the environment," said A... |
Maple Leaf Cement Factory Ltd posts PKR3.6m loss14 September 2020, Published under Cement NewsPakistan’s Maple Leaf Cement Factory Ltd (MLCF) has reported a loss of PRK3.559m (US$226.3m) for the year ended 30 June 2020. Brokerage Arif Habib Ltd in a report said, “Topline of the company witnessed a dip of 21 percent YoY to PKR6bn in 4QFY20 as its dispatches tumbled 20 per cent YoY to 1.02Mt tagged with lower retention prices in the region.” In FY20 revenue reached PKR29.11bn, up 12 per cent YoY as lower retention prices offset the impact of a 41 per cent YoY hike in sales to 5.163M... |
Mangala Cement Udyog told to withdraw product from market14 September 2020, Published under Cement NewsNepal Bureau of Standards and Metrology (NBSM) has barred Mangala Cement Udyog from selling certain products after they failed to meet the quality standard. During a market inspection, NBSM found Mangala Cement Udyog's PPC Ohm Mangala cement defective. According to NBSM officials, the collected specimen of cement had a compressive strength of 14MPa for three days and 19MPa for seven days. The NBSM-prescribed standards for the products are 16MPa and 22MPa, respectively. According to the NB... |
India Cements begins transporting fly ash by rail11 September 2020, Published under Cement NewsIndia Cements’ plant in Chilamkur, Andhra Pradesh, has started loading wet fly ash for another plant in Vishnupuram, Telangana. This marks the first time that fly ash is being loaded by railways from this plant, as the company used to transport the material through roadways. Freight customers currently receive a 40 per cent concession on the normal tariff rates (NTR) if they load fly ash either in bagged or in loose/bulk condition through open wagons. |
Cement stocks have outperformed in PSX lately10 September 2020, Published under Cement NewsAn analyst at Intermarket Securities Ltd has reported that cement stocks listed on the Pakistan Stock Exchange (PSX) have recently outperformed and the present bull-run in cement stocks – up 82 per cent since March 2020 – has been driven by many factors. That includes good pick-up in local demand led by the private sector, anticipated commencement of Naya Pakistan Housing Scheme and the recent announcement of Karachi Package by the government, and lower input costs amid a decline in internat... |
Export of cement from Bangladesh continues to shrink in 2MFY20-2110 September 2020, Published under Cement NewsBangladesh's cement industry has earned export revenue of US$0.89m in July-August 2020 (2MFY20-21), compared to US$1.33m bagged in July-August 2019. The modest start to the financial year reflects the fall in exports by 33.1 per cent over the year-ago period. The figure also includes a minor amount of salt, stone and related products, says data of Bangladesh Export Promotion Bureau (EPB). The export value for cement decreased by 46.4 per cent, underperforming when compared with the governm... |
Chief Minister urges quicker clearance of NOCs for Punjab cement factories09 September 2020, Published under Cement NewsChief Minister of Punjab, Sardar Usman Buzdar, chaired a meeting yesterday at the Punjab Assembly about easing the process of setting up new cement factories in the Pakistani province. The complicated and lengthy process of establishing cement factories has slowed the pace of adding new capacity in the region. The local government wants to boost investment and new job opportunities. Sardar Usman Buzdar linked the issuance of no object certificates (NOC) for establishing a cement factory wit... |