Cement News tagged under: Shree Cement

RSS feed

India: Dalmia Bharat and Shree Cement to battle for Binani Industries

07 February 2017, Published under Cement News

Dalmia Bharat and Shree Cement are among at least three companies that have expressed interest in buying Binani Industries’ subsidiary Binani Cement's 6.25Mta cement manufacturing capacity in India, according to Moneycontrol. "Dalmia Bharat and Shree Cement are interested. There's one MNC [multinational cement company] as well that has a large presence in India which is interested in buying," an official familiar with the development said. Both Dalmia Bharat and Shree Cement have used...

India: five cement producers to appeal the CCI order

06 February 2017, Published under Cement News

Five 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: Shree Cement board approves new 3Mta plant

31 January 2017, Published under Cement News

Shree Cement Ltd on Monday said its board had approved a plan to build a 3Mta plant in Karnataka at a cost of INR18,000m (US$265.3m). The proposed plant is expected to be ready by the quarter ending 31 December 2018, the company said in a regulatory filing.The project is to be funded by internal revenues not yet accounted by the company. Shree Cement’s board also approved on Monday the payment of a special dividend of INR100 per share. The company’s shares fell 1.3 per cent to INR15,677.30...

India: Seven cement firms fined for bid-rigging

20 January 2017, Published under Cement News

The 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: Petron Engineering receives LoI from Shree Cement

05 January 2017, Published under Cement News

Petron Engineering Construction has received a Letter of Intent (LoI) from Shree Cement for the civil works including plant building, silos and miscellaneous work at the cement producer's Orissa grinding project in Shyampur District, Cuttack, Odisha. The value of the contract is approximately INR330m (US$4.86m). In September 2016 the company received a LoI from Shree Cement for civil works at its cement plants at Aurangabad, Bihar and Gulbarga, Karnataka for a total contract value of INR50...

Shree Cement awaits environmental clearance for West Bengal grinding unit

06 December 2016, Published under Cement News

Shree Cement is awaiting environmental clearance for its cement grinding unit in West Bengal, India. The company plans to build a 5Mta grinding plant at Prabatpur and Digha villages, Raghunathpur, Puralia district. The estimated INR6bn (US$88m) project also includes a 20MW coal- and petcoke-based captive power unit. A public hearing is scheduled for 9 December 2016. Shree Cement is yet to finalise the contractor and equipment supplier for the project.

India: Shree Cement Q2 net profit up 18%

08 November 2016, Published under Cement News

Shree Cement reported an 18.3 per cent YoY rise in its standalone net profit for the quarter ended 30 September 2016. Standalone net profit stood at INR2.91bn (US$43.7m) in the quarter compared to INR2.46bn in the same period last year. Total standalone income was up 17.6 per cent to INR22.5bn in the quarter, compared to INR19.1bn last year. Total expenses registered higher at INR20.3bn against INR17.4bn in the previous corresponding quarter. The company’s board of directors also recen...

Visible cracks

10 October 2016, Published under Cement News

Over the last 18 months CDP has analysed sectors ranging from electric utilities and automotive manufacturing to extractives and has benchmarked how leading players manage climate risks and opportunities. In June it was the turn of the cement sector, as CDP published ‘Visible Cracks’, its first report for investors on the global cement industry. This publication revealed how differently companies in the sector are preparing for the transition to a low-carbon economy. By Tarek Soliman and Cha...

India: Shree Cement begins work on Gulbarga plant

05 October 2016, Published under Cement News

Shree Cement has begun construction work on a new integrated cement plant sited in the Gulbarga district of Karnataka. The project, first announced in 2012, will see the creation of a 3.8Mta limestone mine, and have the capacity to produce 2.4Mta of clinker and 3.0Mta of finished cement. The project will also include a 40MW coal-based captive power plant, and is expected to take around 18 months to complete.

India: Shree Cement orders three kiln lines from KHD

09 September 2016, Published under Cement News

Shree Cement has awarded KHD three more kiln lines to install, each with a capacity of 6000tpd, the first being a second line at Shree’s Raipur plant. This new line will be built in Karnataka using a three-string preheater, six-stage preheater and wil include a three-pier rotary kiln (5.4/5.m x 75m), plus a Pyrojet ® burner and Pyrostep ® clinker cooler. Shree Cement has already implemented 11 KHD high-efficiency kiln lines and several grinding stations, including 10 KHD roller presses....