Cement News tagged under: UltraTech Cement
UltraTech Cement plans to raise US$100m from IFC06 February 2013, Published under Cement NewsUltraTech Cement plans to raise approximately US$100m from the International Finance Corporation (IFC) to support its US$297m expansion in Chhattisgarh. According to local media, the company plans to increase clinker production capacity at its integrated plant in Chhattisgarh, eastern India. The report added that the IFC has already started working with the company to identify resource efficiency opportunities for diminishing the company’s carbon footprint. Moreover, the IFC is also l... |
UltraTech Cement in talks to buy ABG Cement plant, India05 February 2013, Published under Cement NewsIndia’s largest cement producer, UltraTech Cement, is in talks to purchase an incomplete 6.7Mta cement plant in Gujarat owned by the ABG Cement group, the Economic Times of India reports. “Executives of both UltraTech Cement and ABG had three rounds of negotiations,” a source told the local daily. According to the report, Axis Capital, the investment banking arm of Axis Bank, is advising UltraTech. “We had some discussions in the past," a senior ABG official said. "The company is ke... |
UltraTech 3Q hurt by subdued demand, higher freight costs21 January 2013, Published under Cement NewsIndia’s largest cement manufacturer UltraTech Cement reported a 2.6 per cent fall in net profit for the third quarter of the current fiscal as a slowdown in construction activity continued and the company was hit by higher freight costs. For the October-December period of FY12-13, UltraTech reported a net profit of INR6.01bn (US$111.7m), down from INR6.17bn a year ago. The company said domestic sales of grey and white cement were subdued at 9.62Mt and 2.62Mt, respectively. Freight and ... |
UltraTech Cement eyes Jaypee's Gujarat operations03 December 2012, Published under Cement NewsIndia's largest cement producer UltraTech Cement is understood to be in talks with Jaypee Group for the latter's business in Ahmedabad, Gujarat. Local press have reported that the deal is valued at around US$700-890m and is likely to close by year-end. Jaypee's Gujarat operations have a capacity of 4.8Mta. The company also has cement assets in Andhra Pradesh. The proceeds received by Jaypee would be used in part to meet capacity expansion and retire debt. CRH had also been in negotiati... |
UltraTech second quarter profit surges, India22 October 2012, Published under Cement NewsIndia’s largest cement producer UltraTech reported a 97 per cent rise in standalone profit to INR5.5bn (US$102m) for the second quarter of the current fiscal FY12-13 but higher input costs continue to impede the domestic industry. During the July-September 2012 period, net sales rose 20 per cent to INR47bn, as consumption has seen a gradual uptick through the year. Cost cutting measures have helped the cement major achieve better results, the company said in a release. Margins of cemen... |
UltraTech Cement mandates SMBC for loan, India13 September 2012, Published under Cement NewsUltraTech Cement Ltd has awarded a sole mandate to Sumitomo Mitsui Banking Corp for a syndicated loan, sources said. One source said the deal size is between US$50m and US$100m. Timing of any potential syndication is not determined yet. Ultra Tech Cement is part of the Aditya Birla Group. It is the country's largest cement maker, with a capacity of 48Mt which it is increasing to 62Mt by FY14. |
UltraTech on track to raise capacity by 19% next year31 August 2012, Published under Cement NewsUltraTech, India’s leading cement producer, said it will raise capacity to 62Mt by next year, according to its chairman, as he warned that the outlook for the domestic sector remains challenging. "I believe the short-term prospects for the industry appear bearish. Regardless, over the medium to long term, the sector offers good growth potential," Kumar Mangalam Birla said in a statement released after the company's annual shareholder meeting. Rising input and energy costs have been squ... |
India's Ultratech Cement plans to raise INR2.5bn via bonds24 August 2012, Published under Cement NewsUltratech Cement is planning to raise INR2.5bn (US$44.84m) through five-year bonds at 9.15 per cent, a source with direct knowledge of the deal said on Thursday, according to Reuters. |
UltraTech Cement plans to raise INR2.5bn rupees via bonds16 August 2012, Published under Cement NewsIndia's UltraTech Cement is planning to raise INR2.5bn (US$44.84m) through five-year bonds at 9.15 per cent, a source with direct knowledge of the deal said on Thursday. HSBC Bank is the sole arranger to the deal, said the source. (Reuters) |
Cochin port attracts import investments, India13 August 2012, Published under Cement NewsCochin port is emerging as a major cement import hub with Malabar Cements expressing interest in setting up a 1Mta facility and Zuari Cements finalising a 30-year deal with the Cochin Port Trust (CPT) this week. Cochin Port is a major port on the Arabian Sea – Indian Ocean sea-route and is one of the largest ports in India. The port lies on two islands in the Lake of Kochi: Willingdon Island and Vallarpadam, towards the Fort Kochi river mouth opening onto the Arabian Sea. The Hindu newsp... |