Cement News tagged under: Indian sub-continent
Bangladesh producers seek advanced income tax refund of BDT7500m28 August 2020, Published under Cement NewsBangladeshi cement manufacturers have requested that the National Board of Revenue makes payment of BDT7500m (US$88,47m) as a refundable advanced income tax to help them recover some of their losses from the coronavirus pandemic. Previous attempts to seek similar demands in the national budget were turned down. "We need a fresh injection of capital to recover the losses incurred due to pandemic. We have fallen in capital shortage as well. So, the government should refund our adjustable fund... |
Lucky Cement profits fall to PKR3.34bn in FY2026 August 2020, Published under Cement NewsLucky Cement Ltd has announced dismal financial results for FY19-20 (July 2019-June 2020). The company earned an after-tax profit of PKR3.34bn (US$19.8m) as compared to PKR10.49bn, reported during the same period in the previous financial year. The company attributed the drop in the profitability for the last three years mainly to increased capacities coming online locally, which has put downward pressure on margins, while input costs have continued to increase. However, as the local deman... |
Hetauda Cement Industries sees losses mount up25 August 2020, Published under Cement NewsA combination of COVID-19, stalled construction activities and falling cement sales have seen Hetauda Cement Industries' losses grow fivefold YoY. The state-owned Nepalese company amounted losses totalling NPR50m (US$417,872) in the last fiscal year ended mid-July. According to the factory, it was able to sell only 1.45m bags of cement and clinker out of the 1.9m bags it produced in the last fiscal year. Sarju Aryal, head of the sales division, said the factory was left with about 400,000... |
Government plans new cement units near power stations24 August 2020, Published under Cement NewsNitin Raut, a cabinet minister for the government of Maharashtra, India, has stated that the Maha-Vikas Aghadi (MVA) government has plans to set up new cement units near power plants in the state. The pilot project would reportedly be at the Khaparkheda Thermal Power Station (KTPS). "We’ve completed formalities like studying feasibility of such units in our plants’ vicinity. It would be a joint venture between Maharashtra State Power Generation Company (Mahagenco) and cement companies, and ... |
Pakistan cement industry earns good export revenue during July24 August 2020, Published under Cement NewsPakistan's Federal Bureau of Statistics (FBS) has released cement export data for July 2020 (FY20-21). During this period, the industry earned good export revenue as the both value and quantity of cement exports increased on a MoM basis, but shows a mixed trend when compared with the YoY basis. Pakistan's total exports (all commodities) increased by 25.1 per cent during July 2020 to US$2bn against US$1.59bn in June 2020, the PBS data revealed. Pakistan's cement industry earned US$22.92m of... |
UltraTech secures bauxite raw material supplies from Hindalco21 August 2020, Published under Cement NewsHindalco Industries Ltd, India's premier aluminium and copper producer, has won an order to supply 1.2Mta of bauxite residue to UltraTech Cement as a raw material for cement production. The order is part of UltraTech's drive to use industrial by-products, which can contribute to toxic waste if not disposed of properly. Hindalco has supplied 2.5Mt of bauxite residue to 40 cement companies in 2020 so far. |
Burnpur Cement sees net revenue down 2% YoY18 August 2020, Published under Cement NewsIndia’s Burnpur Cement has reported a standalone net loss of INR163.9m (US$2.19m) in the first quarter of FY20-21, compared to an INR18.4m loss in the year-ago period. Net revenue for the company also saw a marginal decrease of 1.9 per cent YoY to INR196.7m from INR200.4m. |
Bangladesh's cement sector sees signs of recovery in demand17 August 2020, Published under Cement NewsPremier Cement of Bangladesh has reported that the cement sector has been showing some signs of recovery for the last two months, despite the coronavirus pandemic. The sector had been reeling from the unprecedented collapse in demand in April and May because of the pandemic, which hammered activity and brought the construction sector to a grinding halt. However, activity has begun to pick up and are now back almost to the pre-pandemic level in June and July. "The economic front of a develo... |
NTPC begins the bulk supply of fly ash from new unit17 August 2020, Published under Cement NewsNTPC, India’s largest energy conglomerate, has begun the bulk supply of fly ash to cement plants from its new Rihand project in Uttar Pradesh. "NTPC Ltd has developed an infrastructure at Rihand project in Uttar Pradesh to transport fly ash in bulk to cement plants, located at distance, at a cheaper cost," said a company statement. The development is in line with the company’s commitment towards 100 per cent utilisation of fly ash from power plants. |
JK Lakshmi Cement reports 6% dip in net profit14 August 2020, Published under Cement NewsIndia’s JK Lakshmi Cement saw a 5.8 per cent YoY decline in consolidated net profit to INR506.3m (US$6.76m) for the June quarter, against INR537.5m in the year-ago period. Revenue from operations also fell 19.8 per cent YoY to INR9.12bn from INR11.36bn in the 1QFY19-20. "Sales volume was severely impacted by lockdown restrictions during most part of the quarter [...] resulting in sales volume plunging by 18 per cent in Apr-June 2020 over Apr-June 2019,” said the company. However, on a ... |