Cement News tagged under: Indian subcontinent
UltraTech reports 16% YoY sales volume growth in 1QFY2402 October 2023, Published under Cement NewsUltraTech has announced Indian grey cement sales of 25.24Mt for the quarter ended 30 September 2023 (2QFY24). White cement sales over the same period came in at 0.42Mt giving a total sales volume for India of 25.66Mt for the quarter. Grey cement sales overseas stood at 1.18Mt for the three-month period, taking total consolidated sales for UltraTech to 26.69 in the 2QFY24. This marks a 16 per cent increase on the 23.10Mt reported in the same quarter a year earlier, but is down 11 per cen... |
Shree Cement approves NCDs to fund expansion27 September 2023, Published under Cement NewsShree Cement has approved plans to raise INR7000m (US$84.11m) through the issue of non-convertible debentures (NCD) on a private placement basis. According to Realty, the secured, rated, redeemable and taxable NCDs with a base issue size of INR3500m, with an option to retain oversubscription of up to INR3500m, will be allotted today (26 September 2023) at a face value of INR100,000 each for cash at par. The date of maturity of the NCDs to be issued on a private placement basis to certai... |
Unique Cement Industries Ltd joins WCA22 September 2023, Published under Cement NewsThe World Cement Association (WCA) has welcomed Bangladesh-based Unique Cement Industries Limited as a corporate member. Established in 2002, Unique Cement has 1500 employees and is a subsidiary of Meghna Group Industries, one of the largest and fastest growing industrial conglomerates in Bangladesh. Unique Cement started its journey with a 1500tpd grinding plant in Meghnaghat , Sonagon. More production lines were added in 2007, 2012 and 2019 taking total cement production capacity to 5Mt... |
JK Lakshmi Cement to buy Amplus Helios solar stake20 September 2023, Published under Cement NewsIndia-based JK Lakshmi Cement Ltd , part of JK Organisation, has announced it will acquire a 20.80 per cent stake in Amplus Helios Pvt Ltd, a special purpose vehicle to set up a 50MWAC solar power plant in Chhattisgarh, India. The stake will be bought for INR21.6m (US$0.25m). The acquisition will enable JK Lakshmi Cement to secure the source of 40MWAC solar power for its Durg plant. |
Lucky Cement announces three new green power projects19 September 2023, Published under Cement NewsPakistan’s Lucky Cement has announced further investments in green power to help reduce its dependence on imported fuel. According to Business Recorder, the cement producer is launching three new renewable projects with a total power generation capacity of 37.6MW, in addition to the 25MW and 34MW solar power projects recently commissioned at its Karachi and Pezu plants, respectively. The new investments include a 28.8MW captive wind power plant at its Karachi works, a 6.3MW solar powe... |
ACC commences production at Ametha plant15 September 2023, Published under Cement NewsACC , part of the Adani Group , has begun clinker production at its new Ametha cement plant in Madhya Pradesh, India, reports Business Line. The integrated works has a 3.3Mta clinker capacity and 1Mta cement capacity. The greenfield project takes ACC’s overall cement production capacity to 37Mta. It also boasts a 16.3MW waste heat recovery system and has the potential to use up to 15 per cent alternative fuels and raw materials. According to Ajay Kapur, CEO of the cement busines... |
Lucky Cement invested PKR100bn in the last few years07 September 2023, Published under Cement NewsLucky Cement ( Yunus Brothers Group) has invested over PKR100bn (US$325.3m) in the past 4-5 years, which includes PKR30bn in Lucky Electric Power Co (LEPCL), PKR50bn in cement operations and PKR15bn in auto segments. A top official of Lucky Cement shared this information during last week's corporate briefing. It is important to note here that during FY22-23, company profitability was down due to cement demand contraction and the imposition of super tax. Its local cement volumes were ... |
Ramco Cements commissions WHRS at Kolimigundla06 September 2023, Published under Cement NewsRamco Cements has announced the successful commissioning of its 12MW waste heat recovery system (WHRS) at its Kolimigundla plant in India. This takes the company’s total WHRS capacity to 43MW. The company also has 166MW of wind power capacity. According to Ramco, the share of green power is expected to reach 45 per cent of its total energy consumption as part of its ongoing efforts to reduce its reliance on fossil fuels and minimise greenhouse gas emissions. |
JSW Cement reveals IPO plans to fund expansion04 September 2023, Published under Cement NewsJSW Cement is planning to launch an initial public offering (IPO) in 2024 to raise INR40,000m (US$483.8m) to fund its ongoing expansion plans, reports Live Mint. “In 2024, we are planning to take this company public, for which we will be filing the DRHP (draft red herring prospectus) in the next six months. We will be timing the market listing after the national elections,” confirmed Parth Jindal, managing director, JSW Cement. According to the company, it hopes to raise I... |
Orient Cement welcomes new company secretary04 September 2023, Published under Cement NewsOrient Cement , part of the CK Birla Group , has announced the appointment of Diksha Singh as company secretary and compliance officer with effect from 2 September 2023. She will take over the role from Nidhi Bisaria, who resigned effective from 1 September 2023. Ms Singh is a science and law graduate, and is an associate member of the Institute of Company Secretaries of India. She has more than 14 years’ experience working for listed companies. Prior to joining Orient Cement, she he... |