Cement News tagged under: Indian subcontinent
Private sector supports corruption case against Nepalese cement sector02 February 2022, Published under Cement NewsThree umbrella organisations representing the private sector have protested against the corruption case filed by the Commission for the Investigation of Abuse of Authority (CIAA) against the cement industry . They have complained that CIAA’s move discouraged the entire private sector. The Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries and Nepal Chamber of Commerce issued a joint statement Monday defending the industrialists and cement comp... |
Orient Cement sees 3Q profit fall by 19% YoY01 February 2022, Published under Cement NewsCK Birla-owned Orient Cement reported an 18.9 per cent decline in net profit to INR436.7m (US$5.84m) for the third quarter, ended 31 December 2021. In the equivalent quarter of 2020, the company had posted a net profit of INR538.8m, said the company in a filing to the Bombay Stock Exchange (BSE). Orient Cement’s revenue in the 3QFY21-22 edged up 2.1 per cent to INR6.175bn, compared with INR6.046bn in 3QFY20-21. Total expenses increased by 4.6 per cent to INR5.526bn in the 3QFY21-22 fro... |
Ramco Cements to commission Kurnool clinker plant in February26 January 2022, Published under Cement NewsRamco Cements Ltd is expected to bring online its 2.25Mta clinker plant in Kurnool, India, in February. The 1Mta cement grinding unit, 12MW waste heat recovery system and 18MW thermal power plant are scheduled to be commissioned in FY2022-23. Its RR Nagar plant project, which will see a new energy-efficient 3000tpd kiln, is likely to be commissioned in FY2023-24. The modernisation project represents and investment of INR4.76bn (US$63.6m). |
Ramco Cements sees 59% fall in 3Q net profit25 January 2022, Published under Cement NewsIndia-based Ramco Cements Ltd reported a 59 per cent decrease in standalone profit after tax at INR830m for the quarter ended 31 December 2021 (3QFY21-22). In the 3QFY20-21 standalone profit after tax was INR2.01bn. Net revenues for the 3QFY21-22 expanded 16 per cent YoY to INR15.56bn from INR13.45bn in the 3QFY20-21, as cement sales volumes increased 15 per cent to 3.01Mt from 2.61Mt in the year-ago period. But the company said demand was weak due to a range of factors such as the monsoo... |
India is looking at recovery10 January 2022, Published under Cement NewsIndia’s higher cement demand and production growth rates appear to be decelerating as the effects of a low comparison base began to wane towards the end of the 2QFY21-22. On the cost-front, headwinds continue to impact producer margins, giving rise to potential cement price increases to mitigate pressures. Cement producers in India saw a surge in cement demand in the 2QFY21-22 but capacity utilisation rates are not expected to surpass the 60 per cent mark for the rest of the year ... |
Orient Cement sees start-up of new solar plant30 December 2021, Published under Cement NewsIndia-based Orient Cement will receive 50 per cent of its annual energy needs at its Maharashtra cement plant thanks to the start-up of a new solar plant. The 13.5MW solar power project was commissioned by Amp Energy India, who operates an open-access facility in Gurgaon village, Osmanabad district. Orient Cement has signed a power purchase agreement with Amp Energy India for the purchase of solar power for 25 years. The cement producer is expected to significantly reduce its energy bills ... |
Pakistan sees exports surge in November22 December 2021, Published under Cement NewsPakistan's cement and clinker exports has reported mixed results between July 2021 and November 2021. According to a research house, exports observed a negative trend on a cumulative basis driven mainly by the political crisis in Afghanistan, as exports from the north reportedly remained disturbed. Elsewhere, exports from southern plants posted nominal growth. The industry earned US$115.99m in export revenue by dispatching 3.20Mt of cement and clinker overseas in the 5MFY21-22 (1 July-31 No... |
Shree Cement plans new plant in Guntur21 December 2021, Published under Cement NewsIndia’s Shree Cement is planning to set up an INR15bn (US$198.52m) greenfield cement plant in Guntur, Andhra Pradesh. The project will be the company’s first plant in the state and is expected to complete in 24 months. The location was chosen as the growth rate in Andhra Pradesh is reportedly higher than the national average and is expected to improve further. |
SBI acquires minority stake in JSW Cement21 December 2021, Published under Cement NewsThe State Bank of India (SBI) has acquired a minority stake in JSW Cement Ltd at an investment of INR1bn (US$13.23m). The capital is expected to support the company’s capacity expansion plans from 14Mta to 25Mta. "In a short span of three years, we have increased our capacity from 6Mta to 14Mta and are now working towards achieving the 25Mta milestone over the next 24 months. We take great pride in being the recipient of one of SBI's larger investments through the private equity route. I... |
UltraTech Cement begins operations at Navi Mumbai terminal20 December 2021, Published under Cement NewsIndia’s UltraTech Cement has begun operations at its bulk terminal in Kalamboli, Navi Mumbai. As the company’s 7th bulk terminal, it has a 1.2Mta capacity and is expected to strengthen its bulk cement sales in the region. Cement will be brought in bulk rakes to this terminal from UltraTech’s manufacturing units at Solapur, Maharashtra, and Malkhed, Karnataka. This will effectively help in reducing the freight cost, with an increase in the usage of rail transportation. |