Cement News tagged under: My Home Industries

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CRH reportedly in talks to sell stake in Indian joint venture

13 December 2019, Published under Cement News

CRH is reportedly in talks to exit its joint venture with India’s My Home Group, according to VC Circle. In 2008, CRH acquired the 50 per cent stake in My Home Industries for around US$450m and the deal would see this returned to the Indian group. My Home Industries operates across four locations in Andhra Pradesh, Tamil Nadu and Telangana, with a total cement capacity of 9.6Mta. The company is a market leader in Andhra Pradesh and Telangana under its flagship brand of Maha Cement.

My Home Industries considers 50% capacity expansion

13 June 2018, Published under Cement News

India-based My Home Industries is considering a capacity expansion of up to 50 per cent over the next four years, according to the Business Line. The company has announced that its awaiting clearance from the board for the expansion, which would see it increase capacity to 15Mta from 10Mta. "Investment and location for expansion will be decided when we finalise the plans. We have the opportunity to expand in our existing locations also," said Vijay Vardhan Rao, marketing president, My Home...

India: new MHI plant operational by January

21 December 2016, Published under Cement News

My Home Industries Ltd (MHI) has announced the launch of its new cement plant in Tuticorin, Tamil Nadu. The plant is expected to start functioning from January 2017. Executive Director of MHI, Samba Siva Rao, said that the grinding unit at Tuticorin would expand the company’s market share in the southern market: “We are leaders in Andhra and Telangana. In Tamil Nadu we have about seven percent market share and in Karnataka, it is about five to six percent. This plant would help strengthen...

India: My Home Industries to commission INR2.5bn plant

08 November 2016, Published under Cement News

My Home Industries has announced that it will commission its 1.5Mta plant in Tuticorin, Tamil Nadu, in January 2017. The Tuticorin plant will represent a INR2.5bn (US$37.5m) investment and considerably increase the company’s access to both southern and eastern markets. Executive Director of the company, S Sambasiva Rao, told reporters that the new plant “will increase our cement production capacity from existing 8.4Mta to 10Mta.” The company also has plans to set up a greenfield plant ...

India: My Home Industries set for 10Mta capcity

01 September 2016, Published under Cement News

With its 1.5Mta Tuticorin plant, Tamil Nadu, expected to be commissioned in January 2017, My Home Industries is set to see its production capacity increase to 10Mta. Speaking of its ambitions in the sector, J Rameswar Rao, chairman of My Home Industries, said, “We want to go in for acquisitions in north, central and western India to further increase the capacities.” My Home Industries became a major player in the sector following its acquisition of Shriram EPC’s 3.2Mta plant in Kurnool...

Odisha state clears three grinding projects, India

06 November 2014, Published under Cement News

The State Level Single Window Clearance Authority (SLSWCA) today approved three new cement grinding units in the eastern state of Odisha. Emami Cement has been given approval for a 1.5Mta grinding unit at Begunia in Khurda. Similarly, Shree Cement has proposed to establish a 3Mta cement grinding mill at Odapada in Dhenkanal district. The Rajasthan-based company has opted for this site so that it can use fly ash generated at power plants concentrated in the Dhenkanal district. Meanwhile, M...

CRH to acquire Sree Jayajothi Cements, India

12 August 2013, Published under Cement News

CRH has announced that its 50:50 joint venture in India, My Home Industries Limited (MHIL) has reached an agreement to acquire 100 per cent of the shares of Sree Jayajothi Cements Limited (SJCL), a 3.2Mta cement company based in south India for INR14,000m (EUR175m). The investment will be financed from MHIL’s existing debt capacity and by equity inputs from the joint shareholders (EUR70m). CRH’s equity interest will amount to approximately EUR35m. With the addition of SJCL, MHIL b...

India: mergers and acquisitions ahead?

23 July 2012, Published under Cement News

CRH has reportedly emerged as the latest company to enter the foray for a stake in Jaiprakash Associates' cement units in the Indian states of Gujarat and Andhra Pradesh, which could pave the way for the Irish building materials major to increase its presence in a country teeming with long-term potential. Elsewhere, the recent ruling by India's antitrust body on local cement producers could aid increased consolidation in the fragmented Indian cement sector.   Earlier last month, Jaiprakash ...