Cement News tagged under: JK Cement
JK Cement plans expansion spree05 December 2017, Published under Cement NewsJK Cement is planning to almost double its grey cement capacity to 18Mta in four years with brownfield and greenfield expansions. The company is embarking on a brownfield expansion of 3.5Mta at its Mangrol facility in Rajasthan. This involves capital expenditure of about INR15,000m (US$232.8m). Work at Mangrol is expected to start by end FY17-18 and commissioning is expected by end of 2019, Rajnish Kapur, head of grey cement business, told Economic Times. Separately, JK is also workin... |
Indian cement companies expected to raise prices20 November 2017, Published under Cement NewsIndian cement companies are expected to raise cement prices in reaction to the recent ban on petcoke and furnace oil, which came into effect in Uttar Pradesh, Haryana and Rajasthan. The ban is expected to affect in particular Shree Cement, JK Cement, JK Lakshmi Cement, Ambuja Cement, India Cements and ACC, which operate in these states. The price hike is predicted to be around INR10 (US$0.15)/bag. Other parts of the country could be affected in the future as the Supreme Court has rec... |
JK Cement 2Q net profit doubles to INR930m13 November 2017, Published under Cement NewsJK Cement reported a jump in standalone profit to INR931.4m (US$14.22m) for the second quarter, ended 30 September 2017. In the equivalent period of FY17, the company’s profit reached INR409.1m, said the company in a regulatory filing. Total revenue rose to INR11.421bn in the July-September 2017 quarter, a 5.5 per cent advance when compared with the INR10.822bn reported during the year-ago period. |
Government may step in to outsource the Samba plant25 October 2017, Published under Cement NewsIndia's government is considering to outsource the operation of the Samba cement plant, part of JK Cement Group. "The delay in its launching [the Samba plant] has been attributed to inordinate delay on the release of equity by the government and also delay in the installation of receiving station by PDP," sources maintained. An official of the JK Cements Ltd told the Kashmir Observer that the final decision is yet to be taken, but the government may step in to outsource the Samba pla... |
India: five cement producers to appeal the CCI order06 February 2017, Published under Cement NewsFive of the seven cement companies which were fined by the Competition Commission of India (CCI) in January, for alleged bid rigging of a 2012 tender put out by the Haryana government, will appeal to the Competition Appellate Tribunal. Shree Cement, JK Cement, Ambuja Cements, ACC Ltd and JK Lakshmi Cement will contest the CCI order as they are of the view that they have a ‘good case for succeeding in the appeal.’ Other companies such as UltraTech Cement and Jaiprakash Associates are curren... |
India: Seven cement firms fined for bid-rigging20 January 2017, Published under Cement NewsThe Competition Commission of India (CCI) has imposed fines totalling more than INR2bn (US$30m) on seven cement firms it found guilty of colluding in their responses to a 2012 tender from Haryana state, Indian media reports. The companies have each been fined 0.3 per cent of their average annual turnover for the past three years. Ultratech faces the largest penalty, at INR683m – around a third of the total. The other firms fined were Jaiprakash Associates, ACC, Ambuja Cements, Shree Cemen... |
India: JK Cement net profits climbs 182%01 November 2016, Published under Cement NewsOn a stand-alone basis, JK Cement’s net profit was reported at INR410m (US$6.14m) for the July-September quarter, a 182 per cent increase from the INR145.4m net profit recorded in the same period last year. Stand-alone total income for the period under review increased by seven per cent to INR10.76bn, up from INR10.08bn in the same period last year. Total expenses registered higher during the quarter, reaching INR9.61bn. Total expenses for the same period last year were reported at INR9.4... |
India: production halts at JK Cement Muddapur plant29 September 2016, Published under Cement NewsJK Cement have announced that its 3Mta plant in Muddapur, Baglakot, India, has temporarily ceased operations. The clinker silo roof unexpectedly caved in, causing steel structural supports and a clinker conveyor drive station to fall into the silo. The decision to temporarily stop production was made for safety reasons and to avoid any collateral damage. Production and dispatch will be resumed as soon as possible once the debris has been removed from the clinker silo and any necessary rep... |
Indian cement producers to appeal CCI fines02 September 2016, Published under Cement NewsLafargeHolcim, India Cements and Ramco Cements have said that they will appeal against yesterday’s ruling by the Competition Commission of India (CCI) which levied fines totalling INR67bn (US$1bn) against 11 firms, the Press Trust of India reports. Four of the other affected companies – UltraTech, Shree Cement, Jaiprakash Associates and JK Cement – have said they will seek legal advice and may subsequently submit appeals of their own. LafargeHolcim has said it believes it has a strong ... |
Competition Commission of India imposes US$944m fine for cartelisation01 September 2016, Published under Cement NewsThe Competition Commission of India (CCI) has levied a fine of INR63.2bn (US$944m) on 10 cement companies whom it accuses of conspiring to fix prices in contravention of competition law. In addition, the Cement Manufacturers Association has been ordered to pay a INR7.3m fine. Of the 10 companies, four – Jaiprakash Associates, UltraTech, Ambuja Cements and ACC – will bear the brunt of the penalties, accounting for 76 per cent of the total fine. The other firms fined today are Lafarge, Cent... |