Cement News tagged under: Orient Cement

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Orient Cement becomes CSI member

26 April 2017, Published under Cement News

Orient Cement Ltd, part of the CK Birla Group, announced that it has joined the Cement Sustainability Initiative (CSI). The Indian cement producer expects membership of this initiative to give further impetus to its efforts to create a safe and ecologically favourable environment and is in line with its vision to be the “employer of choice” and the “neighbour of choice” in the geographies where it operates, the CSI said in a statement on Tuesday. "We are delighted to be a part of the g...

India: Orient and JP deal reportedly in final stages

05 April 2017, Published under Cement News

Orient Cement's plan to acquire certain assets of the Jaypee Group is in the final stages and completion of the deal could be announced shortly, according to local media. Citing sources familiar with the development, 'Moneycontrol' reported today that management of both Orient and the Jaypee Group are due to meet this week to discuss last-minute details of the deal. In October 2016, the two companies announced that Orient Cement Would acquire Jaiprakash Associates’ entire stake in Bhil...

India: Orient Cement posts US$4.4m Q3 loss

10 November 2016, Published under Cement News

Orient Cement has recorded a loss of INR294m (US$4.4m) for the quarter to the end of September 2016, CNBC’s Money Control reports. The loss stands in contrast to the same period last year, in which Orient made a profit of INR280m. The current quarter did see revenues rise by 11 per cent to INR4.45bn. “Our markets and plants underwent some difficulty because of monsoon rains. It led to operational challenges,” said Deepak Khetrapal the firm’s MD and CEO. Khetrapal added that volumes ...

India: Birla Group front runner to buy Bhillai stake

06 October 2016, Published under Cement News

Orient Cement, part of the Birla Group, has emerged as the front-runner to buy out Jaiprakash Associates’ 74 per cent stake in Bhillai Jaypee Cement, the Economic Times reports. Bhillai is run as a joint venture between Jaiprakash and SAIL, with the latter holding 26 per cent of the enterprise. A source told the Economic Times that the deal values Bhillai at INR15bn (US$225m). Bhillai Jaypee Cement has a capacity of 2.1Mta with a clinker unit at Satna and a grinding unit Bhillai. "T...

India: cement volume growth

09 June 2016, Published under Cement News

Volume growth in the Indian cement market increased by 12-18 per cent in the quarter ending March 2016 compared to the 4.7 per cent drop seen in the corresponding quarter last year. This level of growth is the largest seen in the last six quarters, and the only growth to reach double digits, as reported by The Economic Times, India. Due to lower petcoke and coal prices the cost of producing 1t of cement fell by 8.6 per cent to INR3517 (US$52.70) YoY. Medium and small companies in the c...

Orient Cement commissions Karnataka plant, India

28 September 2015, Published under Cement News

Orient Cement has commissioned and started commercial production of its new integrated greenfield cement plant Chittapur, Gulbarga district, Karnataka, with an installed capacity of 3Mta. The first consignment of cement from the new plant was dispatched on 26 September 2015. Completion of the project lifts Orient Cement’s total cement capacity to 8Mta.

Dalmia plans merger of listed cement units

27 August 2014, Published under Cement News

India-based Dalmia Group is considering merging its two listed cement units, OCL India and Dalmia Bharat, according to local press reports citing sources with knowledge in the matter. Following the merger, the swap ratio wil favour shareholders of OCL India, reports India Investment News. As part of the restructuring process, Dalmia Bharat also aims to merge its unlisted subsidiary Dalmia Bharat Enterprises into itself. Private equity firm Kohlberg Kravis Roberts owns a 14.5 per cent stake...

Orient in strategic talks to acquire 2Mta plant

15 August 2014, Published under Cement News

Orient Cement is in talks with three companies to acquire a cement plant as part of plans to triple capacity by 2020, a senior company executive has said. Deepak Ketrapal, managing director of Orient Cement, told local press that "strategic discussions“ are being held to acquire a 2Mta cement plant. The names of the companies were undisclosed. Mr Ketrapal added that Madhya Pradesh and Chhattisgarh are the prime locations. The acquisition will form part of Orient Cement’s aim to boost cap...

Senior appointments at Orient Cement, India

08 August 2014, Published under Cement News

Orient Cement’s board of directors has appointed Rahul Deshmukh as chief operating officer at a meeting held on 7 August 2014. Meanwhile, Sushil Gupta has been named chief financial officer of the company. SK Pandey has also been appointed Plant Head of Orient's Devapur cement works.

Orient inks project finance for greenfield plant

21 May 2014, Published under Cement News

Khaitan & Co has advised Orient Cement on loan facilities worth US$200m from a syndicate of lenders led by State Bank of India. The loan is to finance the development of a 3Mta greenfield integrated cement plant along with a 45MW captive power plant at Gulbarga, Karnataka. Partner Shishir Mehta and associate partner Kumar Saurabh Singh acted as legal advisers to Orient Cement.