Cement News tagged under: Indian subcontinent

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India Cements in talks to sell Madhya Pradesh project

04 October 2022, Published under Cement News

India Cements is reportedly in talks with a number of companies over the sale of its project in Madhya Pradesh. India Cements had planned to set up a 3Mta integrated cement plant on the site but is now looking to sell the site to reduce its long-term debt, reports The Hindu. The project with its limestone mine is valued at around INR8000m (US$97.8m). Among the companies vying for the project are UltraTech Cement , JSW Cement , Birla Group and Adani Group . May 2022 saw India Ceme...

JSW Cement secures funds for expansion plans

03 October 2022, Published under Cement News

JSW Cement has secured a INR4000m (US$48.9m) sustainability-linked loan from MUFG Bank India to finance the company’s cement capacity expansion plans, according to The Economic Times. JSW aims to increase capacity from its existing 17Mta to around 25Mta by FY24-25. This marks the third time JSW has sought funds in the last 15 months, have previously raised INR1000m from the State Bank of India in December 2021 and INR15,000m from Apollo Global and Synergy Metals Investments in July 2021.

Birla plans US$1bn investment in new capacity

30 September 2022, Published under Cement News

Birla Corp is planning to invest around US$1bn to increase cement production capacity from 20Mta to 30Mta over the next eight years. According to Harsh V Lodha, chairman of Birla Corporation, the capacity additions will be the result of greenfield and brownfield projects as well as debottlenecking exercises across its entire portfolio, reports The Hindu. The company is reportedly considering a new 4Mta integrated greenfield plant in Chhattishgarh, along with a further 4Mta through a bro...

Ramco Cements commissions new 2.25Mta plant

30 September 2022, Published under Cement News

India’s The Ramco Cements Ltd has commissioned its fifth integrated cement plant at Kolumigundla, Kurnool District, Andhra Pradesh. The INR30,000m (US$366m) works has a clinker capacity of 2.25Mta and will serve the markets of Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra and Madhya Pradesh, according to The Hindu.  The plant has a 12.15MW waste heat recovery (WHR) system, 6MW of which will be commissioned in October 2022 with the remaining coming on stream in 2023. The project als...

Cement demand getting back on track, says India Cements

30 September 2022, Published under Cement News

Despite the ongoing ressures from rising fuel, power and logistics costs, growing construction activity is expected to put cement demand in India back on track, according to Mr N Srinivasan, vice chairman and managing director of The India Cements Ltd . India is forecast to be the fastest-growing economy going forward with GDP predicted to improve by 7.2-7.4 per cent in 2022-23, reports the Financial Express Online.  India has seen a revival in its construction sector in 2021-22 due to p...

Adani Group announces US$100bn investment plan

29 September 2022, Published under Cement News

The Adani Group plans to invest US$100bn over the next decade, according to its owner Gautam Adani. The group’s most recent investment was its US$6.5bn acquisition of Ambuja Cements Ltd and ACC Ltd , instantly making it the second-largest cement producer in India. Around 70 per cent of the planned US$100bn investment is destined for the energy transition market, along with defence, metals and petrochemicals, reports Mint. "As a group, we will invest over US$100bn of capital in the nex...

Sagar Cements' Bayyavaram plant scoops energy awards

28 September 2022, Published under Cement News

Sagar Cements ’ Bayyavaram grinding plant has been recognised as an Excellent Energy Efficient Unit by the Confederation of Indian Industry at this year’s Energy Management Excellence Awards. The facility also scooped the confederation’s GreenCo Star Performer Award. The 1.5Mta plant, located in Andhra Pradesh, has 120kW solar power installed, along with 8.30MW hydropower and 8.42MW captive power. The unit mainly serves the markets of Vizag, Srikakulam and South Odisha.

Ambuja and UltraTech win legal battle against electricity price hikes

27 September 2022, Published under Cement News

Ambuja Cements and UltraTech Cement are among a number of companies who have won a legal battle against electricity distribution entities in Rajasthan over an increase in cross-subsidy surcharges (CSS). According to The Hindu, the electricity distribution companies buy electricity direct from the power producers and pay the CSS, which is then used to supply power to poor and under-privileged customers. However, as stated in the Electricity Act 2003, the CSS should be “progressively re...

Sagar Cements welcomes new chairman

27 September 2022, Published under Cement News

India's Sagar Cements Ltd (SCL) has appointed Kalidindi Venkata Vishnu Raju as chairman, effective from 24 September 2022. He succeeds K Thanu Pillai. Mr Vishnu Raju is also on the board of Anjani Vishnu Allied Services as a whole-time director and was also previously on the board of Anjani Portland cement as chairman and managing director from 1999-2014. SCL currently has an installed production capacity of 8.25Mta.

Udaipur to raise funds through NCDs

23 September 2022, Published under Cement News

India’s Udaipur Cement Works Ltd has announced that it will raise INR3500m (US$43.2m) in a private placement of non-convertible debentures (NCDs). The proposed date of allotment for 3500 NCDs with a face value of INR1m (US$12,356) each is 7 October 2022, with a maturity date of 16 March 2025. According to The Hindu Business Line, the initial coupon rate will be 7.45 per cent per annum.  Udaipur Cement Works currently runs a 2.2Mta cement works in Udaipur, Rajasthan. The company, a subsi...