Cement News tagged under: Penna Cement

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Penna Cement receives approval for IPO

19 October 2021, Published under Cement News

India’s Penna Cement has received approval from the Securities and Exchange Board of India for its INR15.5bn (US$206.56m) initial public offering. The IPO includes a fresh issue of INR13bn and an offer for sale of up to INR2.5bn by promoter PR Cement Holdings, which holds a 33.41 per cent stake in the company. The fresh capital is expected to be used for the repayment of borrowings and to fund an expansion project.

Penna Cement refiles for IPO

17 May 2021, Published under Cement News

India’s Penna Cement Industries has refiled for its initial public offering to raise INR13bn (US$177.5m) through fresh equity shares while its promoters would raise INR2.5bn through an offer for sale. The company expects to use the capital to repay INR5.5bn of borrowings. It would also fund capital expenditure of INR1.05bn for its KP Line II project, while INR800m would go towards upgrading its raw grinding and cement mill in Talaricheruvu, and INR1.1bn and INR1.30bn towards setting up was...

IBAU Hamburg launches largest automatic shipunloader

06 November 2018, Published under Cement News

IBAU Hamburg has successfully commissioned the largest automatically unloading cement cargo ship, the Penna Suraksha, in Southeast Asia. The order will see Penna Cement of India equipped with a shiploader/unloader with 1000tph capacity.

Penna Cement files for an IPO for expansion plans

05 November 2018, Published under Cement News

Penna Cement has filed for a INR15,500m (US$212.2m) initial public offering (IPO) with the markets regulator Sebi to raise funds for expansion and paying off debt. Penna Cement's CEO, Vikram Reddy said Penna Cement has an expansion plan that includes a mix of brownfield and greenfield plants that will raise the company's cement capacity to 16.5Mta by 2020. The IPO will consist of a fresh issue of INR13,000m and an offer for sale of up to INR2500m by the company's promoter PR Cement Holding...

New cement terminal enters operation in southwest India

05 September 2018, Published under Cement News

India’s Cochin Port Trust launched the port’s fourth cement terminal at Ernakulam Wharf, Kerala, on Monday. The terminal is expected to handle 0.3Mta of cement and has been set up on 1.14ha of land. The terminal entered operation by receiving the Penna Suraksha, the largest self-discharge vessel in Asia, with 25,000t of cement transported from Krishnapatnam. The vessel has a discharge capacity of 1000tph and once fully delivered, the material will be bagged at Penna Cement’s plant at the p...

Penna Cement joins the WCA

21 August 2018, Published under Cement News

Penna Cement of India has joined the World Cement Association (WCA) as a corporate member. Commenting on the news, Penna Cement's Director of Marketing, Krishna Srivastava, said: "We are glad to be part of the World Cement Association, which will help us to benchmark against the best companies in the world to improve our environmental sustainability and energy conservation." Meanwhile, Norman Greig, secretary general of the WCA, welcomed Penna Cement, "With Penna Cement, a new member stro...

Penna Cement Industries Ltd orders Loesche VRM

20 December 2017, Published under Cement News

Penna Cement Industries Ltd has ordered a Loesche VRM for its plant in Boyareddypalli, Andhra Pradesh.The four-roller mill will grind petcoke with a throughput capacity of 52tph. The order will be fulfilled by Loesche at the beginning of next year. Penna Cement Industries has a total production capacity of 7Mta and is primarily active in the southern and western regions of India. The company wants to expand the capacity at its operations in Boyareddypalli from 2Mta to 4.6Mta.

Penna Cement plans expansion Gudipadu limestone mining to raise cement output

11 December 2017, Published under Cement News

Indian cement producer Penna Cement is planning an expansion of the Gudipadu limestone mining project at the Gudipadu and Kundanakota, Anantapur district, Andhra Pradesh. The project will see mining operations increase from 2.3Mta to 5.3Mta and is currently awaiting environmental clearance.The estimated cost of the project is INR50m (US$ 777,276) and the mining lease area is 392.63ha. Estimated mineable reserves are 88.403Mt, which will be mined in fully mechanised opencast operations ...

Penna to construct Maharashtra grinding unit

31 March 2015, Published under Cement News

Penna Cement Industries to set up a cement grinding unit with a capacity of 0.7Mta at Daund, in the Pune district of Maharashtra. The estimated cost of the project is INR2bn (US$32m). Gannon Dunkerley Co will be the project contractor and Walchandnagar Industries has been awarded the contract for equipment supplier.

India: AP cancels the Anantapur mining leases of Penna Cement

07 November 2013, Published under Cement News

The failure of Penna Cements to begin its limestone mining operations in Thadipatri Mandal, Anantapur  district, has led the Andhra Pradesh government to force the cancellation of the mining leases originally granted to the cement company. In 2008, Penna Cement had been awarded licences to mine the limestone reserves of 1105.975ha (11.06km2) in Anantapuram, Kurnool and Nalgonda districts. The company's in action has resulted in two mining leases granted in Anantapuram district of 106.86ha ...