Cement News tagged under: Shree Cement

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Indian cement producers to appeal CCI fines

02 September 2016, Published under Cement News

LafargeHolcim, 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 ...

India: 10 Gebr Pfeiffer mills for Shree Cement

18 August 2016, Published under Cement News

Kolkata-based Shree Cement, one of Gebr Pfeiffer’s best customers, has placed an order for 10 mills. This deal will support the Shree Cement’s continuing expansion strategy, which aims to distribute several cement works across India and produce cement in stand-alone grinding terminals. Gebr Pfeiffer will supply MVR 6000 R-6 raw mills, each with a capacity of about 550tph and an installed drive power of 6700kW. The order will come equipped with MPS 2800 BK coal mills that feature a 720kW d...

India: Shree Cement profits hit US$76m in 1QFY16-17

15 August 2016, Published under Cement News

In its trading results for the first quarter of FY2016-17, Shree Cement has seen its profits improve to INR5.1bn (US$76m). This represents an increase of 388 per cent on the same period last year. Cement sector revenues rose by 51 per cent to INR22.9bn (US$342m). Declining power and fuel costs helped Shree’s bottom line. These fell by 21 per cent to INR3.3bn (US$49m). The company has also announced plans to expand its Aurangabad grinding unit from its current capacity of 3.6Mta to 5.6M...

India: Shree Cement to invest INR5bn in 2Mta grinding plant

20 July 2016, Published under Cement News

Shree Cement will invest INR5bn (US$74.4) in a new 2Mta grinding unit in Sarai Kale Karasawa, Jharkhand, India. The company entered a memorandum of understanding with the Jharkhand government in an investor meet on 20 July relating to the project, which is located in the fastest-growing state in eastern India.

India: Shree Cement wins bid for 80,000t of coal

19 July 2016, Published under Cement News

Shree Cement has announced that it has won a bid to be supplied with 80,000tpa of coal from state-owned firm South Eastern Coalfields Ltd (SECL), reports the Economic Times. The deal will see Shree pay INR970/t (US$14.45/t) for the grade 11 coal – in line with the prevailing prices charged by SECL. Earlier this month, UltraTech agreed a deal to pay over INR1500/t for coal to supply cement plants in Maharashtra. That today’s deal is lower-priced reflects the lower energy density of the ...

India: Delhi real estate developers to boycott Shree Cement

08 July 2016, Published under Cement News

The Confederation of Real Estate Developers' Associations of India’s (CREDAI’s) regional representatives in Delhi have announced that they will boycott Shree Cement, according to reports in the Times of India. CREDAI accuses the cement producer of pushing up prices and creating artificial scarcity. It intends to file a complaint with the Competition Commission of India (CCI). A CREDAI spokesperson said: "Shree Cement is arbitrarily increasing prices and stopping supply in between, dema...

Two new orders for KHD

27 June 2016, Published under Cement News

KHD has been awarded a contract by Cementos Argos for a works in Colombia. Cementos Argos ordered three Pyrojet Burners for coal and gas firing, to be installed at its plant in Yumbo, Cali. The burner’s will be tailored to Argos’ wet kilns. Manufacturing and assembly of the burners will take place in Germany and the USA. KHD also received an order from Shree Cement, India, following a contract with the company in December 2015 for the commissioning of a pyroprocessing line at Raipur. A se...

India: Shree Cement completes Aurangabad grinding unit upgrade

23 June 2016, Published under Cement News

Shree Cement has announced the completion of the upgrade works to its Aurangabad grinding plant in Bihar, Business Standard reports. Capacity at the plan rose from 2Mta to 3.6Mta, effective from 22 June 2016. Shree’s shares rose by three per cent after it made the news public. Shree Cement is in the process of expanding clinker production at its Raipur works with that upgrade expected to be completed by March 2018.

Indian producers line up for LafargeHolcim's Sri Lankan operations

10 June 2016, Published under Cement News

A shortlist of potential buyers in the sale of LafargeHolcim's Sri Lankan operations have been named as Dalmia Bharat, Shree Cements along with Ramco after an initial round of screening. The global cement major is divesting its business in Sri Lanka as part of a global portfolio realignment. With an estimated 2.3Mta grinding capacity and a 1.8Mta clinker capacity, it currently controls 40 per cent of the 6Mta Lankan market, said analysts tracking the sector. To put it in perspective, the ...

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...