Cement News tagged under: india
Dalmia top bidder for Chhattisgarh limestone block08 May 2017, Published under Cement NewsDalmia (Bharat) Cement has emerged as the preferred bidder for the Kesla II limestone block in Raipur district Chhattisgarh, India, which was auctioned by the state government on Tuesday. Business Line (India) reported that an official statement said that with 215Mt of reserves, the block has an estimated value of mineral resource of INR103.67bn (US$1.61bn). |
Ambuja Compocem launched04 May 2017, Published under Cement NewsAmbuja Cement announced it has launched its composite cement, Ambuja Compocem, to the Indian markets of Bihar and Jharkhand. The LafargeHolcim company said in a statement that its Chhattisgarh facility has become is first cement plant in India to develop a composite cement after rigorous research over the last year and a half. The new offering is a combination of cement, flyash and slag. Speaking at the launch of the product, Ajay Kapur, MD and CEO of Ambuja Cement, said: "Ambuja Compocem... |
Prism Cement receives limestone mining lease03 May 2017, Published under Cement NewsPrism Cement announced it has received a letter of intent from the government of Madhya Pradesh, India, for a cement-grade limestone mining lease. The lease if for mining in the Chulhi and Majhiyar villages in the Satna district of the central Indian state. To span a period of 50 years, the lease covers reserves of about 23.6Mt and applies to the cement producer’s plants Madhya Pradesh. |
Ambuja Cement sees market improvements02 May 2017, Published under Cement NewsAmbuja Cement, part of the LafargeHolcim group, reported that improving sales volumes, combined with favourable pricing contributed to positive 1Q17 results despite rising costs. Cement sales volume and price realisation improved in each consecutive month of the 1Q17, backed by good cement demand compared to the corresponding period a year, leading to a 5.3 per cent increase in net sales to INR25.33bn (US$395m). “With demonetisation largely behind us, we are well placed to serve both ... |
Morgan Stanley rates UltraTech Cement rated ‘Overweight’02 May 2017, Published under Cement NewsUltraTech Cement has been rated ‘Overweight’ by Morgan Stanley with the EBITDA beat driven by costs, the research house notes. Morgan Stanley cited gradual improvement in industry cement demand, UltraTech Cements's positioning with timely capacity additions and its pan-India presence. Cost focus should further aid growth, it highlighted. "We believe current multiples are sustainable, as we project 25 per cent EBITDA CAGR over FY17-19. UltraTech reported a seven per cent YoY decline in FY1... |
Indian cement prices return to pre-demonetisation levels28 April 2017, Published under Cement NewsCement prices in India have returned to levels prior to the government’s demonetisation move, analysts at ICRA Ratings have reported. “With the impact of demonetisation gradually subsiding, cement prices have reached the pre-demonetisation levels in April 2017 in most markets,” the Economic Times of India quoted Sabysachi Majumdar, senior vice-president and group head, ICRA Ratings as saying. Prices declined in the range of 16-17 per cent in the western and southern regions between Nove... |
No sign of Pakistan cement export recovery28 April 2017, Published under Cement NewsPakistan recorded export volumes of 204,159t cement in March 2017 on revenues of US$11.38m, representing a MoM decline of 11.77 and 7.04 per cent, respectively. On an annual comparative basis, the declines were much steeper with volumes down 65.03 per cent and revenues falling 59.86 per cent, according to the country's Federal Bureau of Statistics. In the first nine months of FY16-17, cement exports totalled 3.644Mt or US$191.51m compared with 4.555Mt at US$248.02m ... |
Orient Cement becomes CSI member26 April 2017, Published under Cement NewsOrient Cement Ltd, part of the CK Birla Group, announced that it has joined the Cement Sustainability Initiative (CSI). The Indian cement producer expects membership of this initiative to give further impetus to its efforts to create a safe and ecologically favourable environment and is in line with its vision to be the “employer of choice” and the “neighbour of choice” in the geographies where it operates, the CSI said in a statement on Tuesday. "We are delighted to be a part of the g... |
UltraTech Cement FY17 sales edge ahead25 April 2017, Published under Cement NewsUltraTech Cement, an Aditya Birla group company, yesterday reported consolidated sales for FY17 of INR250.92bn (US$3.89bn) against INR248.8bn in the previous year. Profit before interest, depreciation and tax of INR58.61bn was nine per cent higher and profit after tax up 10 per cent YoY to INR27.15bn. Domestic grey cement sales was 47.62Mt, virtually flat on the 47.13Mt recorded a year earlier. For the final quarter of FY17, volumes reached 13.35Mt compared to 13.32Mt in the same quarter... |
ACC 1Q sales volumes up 4%24 April 2017, Published under Cement NewsACC, part of the LafargeHolcim group, reported a four per cent rise in sales volumes for the first quarter of 2017 to 6.6Mt from 6.36Mt a year earlier. The company noted that the rise in volumes came as the impact of the country’s demonetisation move declined and benefits were delivered from ACC’s ongoing customer excellence initiatives and higher sales from the expanded capacity at Jamul and Sindri plant. Two new products were launched in February 2017, ACC Suraksha and ACC HPC (High P... |