Cement News tagged under: UltraTech Cement
Road spending to boost Indian cement demand23 July 2024, Published under Cement NewsIndia’s cement companies are expected to benefit from a boost in road infrastructure spending. In her Budget 2024 speech, Nirmala Sitharaman, India’s Union Finance Minister announced an investment of INR260,000m (US$3106m) in highway development in Bihar. According to Mint, key projects includes the construction of a two-lane bridge over the Ganga and new highways such as the Patna-Purnea Expressway and Buxom-Bhagalpur Expressway. The news is expected to bring renewed cement demand, b... |
UltraTech sees sales increase in 1QFY24-2522 July 2024, Published under Cement NewsUltraTech Cement Ltd , part of Aditya Birla Group, has reported consolidated net sales of INR178,790m (US$2.14bn) in the first quarter of FY24-25 (ended 30 June 2024). This compares to INR175,190m in the same period a year earlier. Profit before interest, depreciation and tax fell from INR32,230m 1QFY24-25 to INR32,050m in the same period a year later, while profit after tax advanced slightly from INR16,880m to INR16,970m. According to the company, the quarter under review saw a six per... |
Adani Group targets Jaypee Group's cement assets18 July 2024, Published under Cement NewsAs lenders have initiated insolvency and bankruptcy proceedings against Jaiprakash Associates Ltd, the Adani Group is looking to acquire the Jaypee Group ’s cement assets, which boast over 9Mta capacity, according to a report by Moneycontrol. Jaiprakash Associates has been selling its cement plants to reduce debt, with a significant portion of its cement business previously acquired by UltraTech in 2016 for over INR160,000m (US$1.9bn), adding 22.4Mta capacity to UltraTech’s... |
Boiler explosion kills two and injures 14 at UltraTech plant09 July 2024, Published under Cement NewsA boiler explosion at the UltraTech Cement factory in the Jaggaihpet region of India has reportedly killed two workers and injured 14 others. Of the injured, Avula Venkatesh and Paritala Arjun died while being treated, and a further three workers are said to be in critical condition according to NTR District Collector, Gummalla Srijana. The Jaggaiahpet police have announced that the explosion may have occurred due to a suspected gas leak in the boiler unit, following a p... |
UltraTech Cement poised to buy 23% stake in India Cements28 June 2024, Published under Cement NewsUltraTech Cement says it will buy a 23 per cent stake in Chennai-based rival The India Cements for up to INR18.85bn (US$226m), closing the gap on India's Adani Group. The decision was approved by UltraTech's Board of Directors during a meeting held on 27 June 2024. The investment, which is purely financial and not a related party transaction, is expected to help UltraTech retain a strong presence in the southern part of the country, as Adani firms are attempting to boost its hold in the r... |
IKN completes the start-up of two clinker coolers in India09 May 2024, Published under Cement NewsChettinad Cement has successfully installed the first IKN Pendulum cooler within the group. The IKN pendulum cooler, after a successful trial run, is now poised to deliver exceptional cooling performance for Chettinad Kallur Line No2. Meanwhile, the new IKN Pendulum cooler has successfully undergone a cold trial at UltraTech Cement ’s Tadipatri plant, for a production capacity of 10,000tpd. This marks the second IKN cooler installed at the plant to improve and sustain energy effici... |
UltraTech Cement sales up 9% YoY30 April 2024, Published under Cement NewsIndia’s UltraTech Cement , part of the Aditya Birla Group, has reported a strong performance in the 4QFY24, ended 31 March 2024. Consolidated net sales for the three-month period came in at INR200,690m (US$2.4bn), marking a nine per cent advance YoY, while profit after tax advanced 36 per cent YoY to INR22,580m. For the full year 2024, the company reported a 12 per cent improvement in consolidated net sales to INR698,100m. Profit after tax came in at INR70,050m, up 38 per cent YoY, whil... |
Gebr Pfeiffer wins UltraTech mill orders17 April 2024, Published under Cement NewsIndia's UltraTech Cement Ltd is building three new clinker production lines and will use Gebr Pfeiffer vertical roller mill (VRM) technology. Gebr Pfeiffer SE (Germany) and its Indian subsidiary Gebr Pfeiffer (India) Pvt Ltd will carry out the work at the Happy 3 plant where the cement raw material will be ground in an MVR 5000 R-4 mill. With a 5300kW drive, this mill can grind approximately 705tph to a product fineness of 1.5 per cent R212µm. The integrated SLS 5300 VR high-efficiency cl... |
UltraTech Cement Ltd completes 100MW solar energy project05 April 2024, Published under Cement NewsUltraTech Cement Ltd has completed a 100MW solar energy project under the Group Captive scheme in the state of Rajasthan. This is the company’s first project for sourcing power for its captive consumption from the inter-state transmission network. Power from this project will be available to the company’s Units in Rajasthan, Gujarat, Himachal Pradesh, Tamil Nadu, Odisha among others. This project is part of UltraTech Cement's stated commitment to increase green power mix to 85 per cent by... |
UltraTech announces two new greenfield plants03 April 2024, Published under Cement NewsUltraTech Cement is investing INR324,000m (US$3.89bn) in capex over the next three years, including two new greenfield plants, which will add an additional 5.4Mta in cement production capacity. The two facilities will be located in Chhattisgarh and Tamil Nadu, taking the company’s total cement capacity to 151.6Mta. According to the company, this capacity is equivalent to more than 150 per cent of the capacity in the USA and 80 per cent of the capacity in Europe. It has taken 36 years f... |