Cement News tagged under: india
India: production resumes at Malabar Cements25 October 2016, Published under Cement NewsMalabar Cements Ltd resumed production on Monday, 24 October, following the stoppage of its operations on 10 September due to the non-availability of raw materials. Production was able to resume by bringing in clinker the company had in stock at its logistics centre at Kochi Port. The stoppage resulted in a INR50m (US$ 747,559) loss, according to the Times of India. The shortage of raw materials came after Managing Director, K Pamakumar, was removed from his post last month after bein... |
India: Emami Cement hopes to add 15-20Mta in 3-5 years25 October 2016, Published under Cement NewsIndia-based Emami Cement has plans to construct new plants that will add 15-20Mta of capacity to its portfolio over the next 3-5 years, as reported by The Times of India. Director of Emami Cement, Aditya Agarwal, said, “We aim to be among the top three players in the cement industry. We expect our cement division's turnover to touch [INR25bn] in 2018-19.” The company, which began operations at its 5.5Mta Chhattisgarh plant in July this year, expects to register revenues of around INR5bn (... |
India: ACC commissions Sindri grinding unit24 October 2016, Published under Cement NewsACC Ltd's 1.35Mta Sindri cement grinding unit in Jharkhand, which is a part of the Jamul Integrated project, has also been commissioned and commercial production has commenced with effect from 22 October 2016. The company's two cement grinding units in Jamul and at Sindri, totalling 2.45Mta, will help strengthen the company's market presence in the eastern region. |
India: JSW Cement to go public by FY1920 October 2016, Published under Cement NewsParth Jindal, managing director of JSW Cement, has told the Deccan Herald newspaper that his company will issue its first public shares when it reaches 20Mta capacity. “We will go for IPO once we reach a capacity of 20Mt. Right now, we have a production capacity of 7Mt, and plan to reach 30m by 2020. “JSW Cement would like to achieve 17m capacity by opening up eight grinding units across the country. This will require an investment of INR27bn [US$405m]. “The company can achieve the... |
India: UltraTech cement profits up 25%18 October 2016, Published under Cement NewsUltraTech Cement reported that for the quarter ending 30 September its profits rose 25.27 per cent YoY. A consolidated net profit of INR6.14bn (US$92.1m) was announced for the July-September 2016 quarter, compared to INR4.9bn in the same period last year. However, net sales fell 2.53 per cent to INR57bn from INR58.5bn. Despite an increase in net profit, the results were not as positive as expected. According to a Bloomberg poll, analysts estimated consolidated net profit to be reported at... |
India: JSW Cement capacity expansion by 202017 October 2016, Published under Cement NewsJSW Cement announced plans to expand its production capacity to 30Mta by 2020. According to Director and CEO of JSW Cement, Anil Kumar Pillai, an investment of INR27bn (US$404.3m) has been allocated to increasing capacity to 17Mta by 2018, up from its current capacity of 8.76Mta. The company has a five per cent market share in southern India and has plans to venture into the eastern markets. JSW Cement’s plants are located in Vijayanagar in Karnataka, Nandyal in Andhra Pradesh and Dolvi i... |
J K Cement: Indian cement demand to grow 7% in FY17, 8% in FY1814 October 2016, Published under Cement NewsJ K Cement expects the government’s infrastructure push to drive cement demand in India in the next two years. “We expect demand to hit seven per cent in FY17 and eight percent in FY18,” said the company’s CFO, AK Saraogi. He added that compared to last year there has been a sizeable change in the real estate and developer market and a turnaround has started to happen. “Railways, metro, roads and transport, the smart cities initiative would all have a trickle-down effect on the cement ... |
India: OCL in talks to buy Shiva Cement's Orissa plant13 October 2016, Published under Cement NewsShiva Cement is in talks with OCL India among others to sell its integrated cement plant in Orissa, according to the Financial Express. Shiva Cement shares surged as much as 15.68 per cent and hit their fresh 52-week high in morning trade. For the quarter ended 30 June 2016, the company registered a net loss of INR1390m (US$20.7m) against net profit of INR0.430m in the corresponding quarter a year ago. Net sales of the company decreased by 49.67 per cent YoY to INR8150m for the quarter... |
India: Sagar Cement reviews expansion plans13 October 2016, Published under Cement NewsSagar Cement is reportedly convening a meeting of its Board of Directors on 19 October. The meeting will address proposals for setting up a coal-based power plant at the company’s unit in Mattampally, Nalgonda district, and the capacity expansion of the grinding unit in Bayyavaram, Visakhapatnam district. The capacities for the two plants in question were not disclosed in the company’s statement. The company’s 2015-16 annual report states that Sagar plans to acquire a 181,500tpa grinding ... |
India: Orient Cement will increase debt with acquisition11 October 2016, Published under Cement NewsThe interest burden of Orient Cement is expected to increase following the acquisition of the cement assets of Jaiprakash Associates, valued at INR19.5bn (US$291.48m). The acquisition will, however, help the company's geographical diversification, reports the Economic Times. Orient Cement acquired Jaiprakash Associates' 2.1Mta cement plant at Bhilai and 2Mta grinding unit at Nigri. The enterprise value for the Bhilai asset is US$98/t and the Nigri unit is US$37/t. The deal also includes th... |