Cement News tagged under: Indian sub-continent
JSW Cement prepares for IPO11 January 2024, Published under Cement NewsJSW Cement has reached out to domestic and foreign investment banks including SBI Capital, Kotak Mahindra Capital, JM Financial, DAM Capital, Jefferies, Citi and Goldman Sachs for advising the company on the proposed initial public offering. JSW Group is preparing the ground for listing its cement business on stock exchanges to raise about INR65000m (US$782.9m), according to The Hindu businessline. With the intense competition and consolidation in the industry, JSW Cement plans to utili... |
Pakistan's producers turn to exports10 January 2024, Published under Cement NewsPakistan's domestic sales for the cement industry during the first half of the current fiscal year (1HFY23-24) have grown by a mere one per cent compared to last year. Ballooning construction costs, of which cement prices have contributed their part, have deterred demand. The recent implementation of the axle road regime has further sent prices hurtling forward as transport costs increase. This is unlikely to ease over the next couple of months, which will keep prices steady and looki... |
UltraTech enables green mobility for clinker with electric trucks09 January 2024, Published under Cement NewsGiving a significant boost to ‘green mobility’, UltraTech Cement Ltd , India’s largest cement and ready-mix concrete company, has introduced five electric trucks for transport of clinker from its integrated cement manufacturing unit Dhar Cement Works, located in Madhya Pradesh, to its grinding unit Dhule Cement factory, located in Maharashtra. To ensure reliable transportation, UltraTech has also set up three charging stations, one at each of the units and one en-route. The transpor... |
Aditya Birla appoints Chief Human Resource Officer (Designate)09 January 2024, Published under Cement NewsIn line with the Aditya Birla Group ’s Employee Value Proposition of ‘A World of Opportunities’ and talent philosophy of developing talent from within, the Board of Directors at its recent meeting, based on the recommendation of the Nomination, Remuneration and Compensation Committee, considered and approved the appointment of Chandrashekhar Chavan, as Chief Human Resource Officer (Designate), Senior Management Personnel of the company with effect from 16 February 2024. He will take on the ... |
Bangladesh outstrips the cement export target in 6MFY23-2408 January 2024, Published under Cement NewsBangladesh has recorded 91 per cent YoY growth in cement export revenue to US$8.96m in the first six months (July-December 2023) of FY23-24 from US$4.69m in the same six months of the previous year, according to the Bangladesh Export Promotion Bureau (EPB). This figure includes minor amounts of salt, stone and related products. The 22.1 per cent YoY rise in cement exports also surpassed the target of US$7.29m for 6MFY23-24. Bangladesh had set a higher target export revenue of US$15m for F... |
Afghan coal price surge impacts northern Pakistan cement production costs08 January 2024, Published under Cement NewsA spike in Afghan coal prices has affected the cost of cement production in northern Pakistan. JS Research reports that the northern-based cement companies, which operate 20 of the 26 production lines in Pakistan, are facing the challenge of high production costs due to a recent rise in imported coal prices. The cost trade-off between Afghan and international coal remains dynamic, leading to difficulties for the industry. The northern region players face costs of around PKR53,000/t (US$188.... |
Cement prices rise in Sri Lanka08 January 2024, Published under Cement NewsThe maximum retail price of a 50kg bag of cement has been increased in Sri Lanka by LKR150 (US$0.466) with immediate effect, cement manufacturers said. They said the price was increased due to the imposition of the value-added tax on 1 January. Accordingly, the new retail price of a 50kg bag of cement is LKR2450 (US$7.62). Meanwhile, National Construction Workers Union (NCWU) secretary, Supun Abeysekara, told the local Daily Mirror that though only a three per cent VAT should be impose... |
Pakistan sees drop in 1HFY23-24 dispatches05 January 2024, Published under Cement NewsPakistan's cement dispatches increased by 4.6 per cent in December 2023 to 4.06Mt against 3.881Mt dispatched in December 2022. Out of this total, according to the data released by All Pakistan Cement Manufacturers Association (APCMA), local cement dispatches were 3.536Mt compared to 3.676Mt in December 2022, showing a decline of 3.8 per cent. However, more positive news came from the overseas markets as export dispatches increased by a considerable 155.9 per cent as the volumes jumped from 2... |
SID completes alternative fuel project for Prism Cement04 January 2024, Published under Cement NewsPrism Cement has announced the completion and hand over of another milestone project for the company in India. The joint efforts of SID SA of Switzerland and India have successfully completed the alternative fuel project at the cement plant. This project will reduce carbon consumption in cement production while using processed alternative fuel. Prism Cement operates a 5.6Mta plant in Satna , India. |
UltraTech's sales rise 6% YoY in 3QFY23-2402 January 2024, Published under Cement NewsUltraTech 's consolidated sales rose by six per cent per cent to 27.32Mt YoY in the third quarter ended 31 December 2023. Aditya Birla Group , UltraTech's parent company, announced in a regulatory filing that total sales volume in the domestic market was up five per cent YoY to 26.06Mt during the quarter under review. The company's domestic grey cement production was at 25.44Mt in the October-December 2023 quarter, reporting five per cent growth YoY, while its white cement production wa... |