Cement News tagged under: Shree Cement
Deadline nears for LafargeHolcim India assets bids05 April 2016, Published under Cement NewsAdvisors to the sale of LafargeHolcim's 11Mta Indian cement production capacity say that they expect to receive seven to eight bids before next week's deadline. The sale - which was a required by competition authorities - has attracted the attention of a number of private equity firms. According to reports by India’s Mint newspaper, Temasek Holdings, Advent International, Barings Asia Private Equity, Blackstone, Aion Capital and the investment arm of Piramal Group are all evaluating the d... |
India: Shree Cement set for more expansion28 March 2016, Published under Cement NewsShree Cement, the fourth largest domestic cement company, is looking to ramp up capacity by another 10Mta in the coming three years. The cement producer has lined up a capital expenditure of INR60000m (US$900m) to construct three new clinker plants. The first plant will be a 3Mta the line at Bazar-Bhatapara district, in Chhattisgarh. The company has recently won a bid for limestone reserves at the Karhi-Chandi area in the state to supply the plant with raw materials. This area has an... |
India: Shree Cement receives first non-coal mining lease in Chhattisgarh22 February 2016, Published under Cement NewsShree Cement has won the first ever non-coal mining lease auctioned by the state government of Chhattisgarh, India. The Indian Bureau of Mines (IBM) price of limestone in Chhattisgarh was INR483.17/t. Shree Cement offered to pay INR284/t — the highest bid that was 58.95 per cent of IBM price. The auction process continued for over five hours on Thursday. In all, 192 bids were submitted. “The auction of Karhi Chandi block itself would yield INR4386 crore to the state exchequer at the said... |
Jaypee Group’s cement assets up for grabs29 December 2015, Published under Cement NewsJaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information memorandum of operations. Jaypee Group, one of the top ten most indebted Indian conglomerates with a ... |
India: Shree Cement plans eastern expansion24 November 2015, Published under Cement NewsShree Cement Ltd is setting its sights on the eastern Indian market by establishing a grinding units in the states of Odisha and West Bengal, according to local press reports. The company is reportedly in the process of identifying land for the two plants, each with a capacity of 2Mta. "We have already started despatches in West Bengal and Odisha in a small way. We would like to capture at least three to five per cent market share in these two state over the next six months," said S... |
Shree Cement commissions Uttar Pradesh grinding plant02 November 2015, Published under Cement NewsShree Cement has commissioned a grinding plant at Bulandshahr in Uttar Pradesh on 30 October 2015, the company said in a statement to the Bombay Stock Exchange. The new facility has a cement capacity of 2Mta. |
Petron Engineering Construction receives order from Shree Cement, India21 August 2015, Published under Cement NewsPetron Engineering Construction has received work order from Shree Cement in Bewar, Rajasthan, India. The order includes civil construction work, reinforcement and steel work of a ball mill structure for a contract value of US$1.79m. |
Shree commissions 1.5Mta Chhattisgarh line29 May 2015, Published under Cement NewsShree Cement commissioned its 1.5Mta clinker manufacturing unit at Baloda Bazar near Raipur in Chhattisgarh on 20 May 2015. The cement mill section had previously been commissioned on 24 February 2015. Shree Cement's cement plants are located at Beawar, Ras, Khushkhera, Jobner and Suratgarh in Rajasthan and Laksar (Roorkee) in Uttarakhand. |
Shree net profit down on weaker sales, India30 April 2015, Published under Cement NewsShree Cements on Wednesday reported a 46.39 per cent dip in standalone net profit at to INR1.198bn (US$18.8m) for the third quarter that ended on 31 March 2015 due to a decline in sales. The company had registered a net profit of INR2.225bn for the corresponding period a year ago, it said in a filing to the Bombay Stock Exchange. Total turnover of the company dropped 5.31 per cent to INR15.764bn during the quarter under review versus INR16.649bn a year earlier. The cost of raw materials w... |
Shree completes acquisition of Jaiprakash grinding unit, India28 April 2015, Published under Cement NewsShree Cement has completed the acquisition of a cement grinding unit of Jaiprakash Associates in Haryana state, India. “The acquisition of a 1.5Mta cement grinding unit of Jaiprakash Associates Ltd, situated at Panipat, has been consummated on April 27, 2015 for an aggregate consideration of INR358.22 crore,” Shree Cement said in a filing to the Bombay Stock Exchange yesterday. Completion of the acquisition takes Shree Cement’s capacity to 19Mta, with facilities in Rajasthan, Uttarakhand, ... |