Cement News tagged under: india
India: Assam cement companies bring down prices05 September 2016, Published under Cement NewsFollowing an initial reluctance, cement companies in Assam, India, have started to lower cement prices, according to reports in The Telegraph. Cement producers including TopCem Cement, Star Cement and Dalmia Cement announced a price reduction of INR25-35/bag in the Indian state. There had been protests by organisations like the Krishak Mukti Sangram Samiti (KMSS) after the companies recently decided to hike price by around INR20-40/bag. The rise in cement prices was seen as detriment... |
Competition Commission of India imposes US$944m fine for cartelisation01 September 2016, Published under Cement NewsThe Competition Commission of India (CCI) has levied a fine of INR63.2bn (US$944m) on 10 cement companies whom it accuses of conspiring to fix prices in contravention of competition law. In addition, the Cement Manufacturers Association has been ordered to pay a INR7.3m fine. Of the 10 companies, four – Jaiprakash Associates, UltraTech, Ambuja Cements and ACC – will bear the brunt of the penalties, accounting for 76 per cent of the total fine. The other firms fined today are Lafarge, Cent... |
India: My Home Industries set for 10Mta capcity01 September 2016, Published under Cement NewsWith its 1.5Mta Tuticorin plant, Tamil Nadu, expected to be commissioned in January 2017, My Home Industries is set to see its production capacity increase to 10Mta. Speaking of its ambitions in the sector, J Rameswar Rao, chairman of My Home Industries, said, “We want to go in for acquisitions in north, central and western India to further increase the capacities.” My Home Industries became a major player in the sector following its acquisition of Shriram EPC’s 3.2Mta plant in Kurnool... |
Northern India prices rebound as demand strengthens30 August 2016, Published under Cement NewsCement prices in northern India have risen by around 25 per cent YoY in the period April-July 2016, driven by rising demand, according to the Economic Times. This performance stands in contrast to other regions, where prices have either remained stable or fallen slightly. In the north, prices stood at INR305-345/bag (US$4.55-5.14), up on the same period last year and also higher than the INR225-240 seen in January 2016. Sabyasachi Majumdar, senior vice president, ICRA Ratings, said, “W... |
From coal to petcoke grinding24 August 2016, Published under Cement NewsWhen ACC decided to replace coal with petcoke as the main fuel for its kilns at the Gagal works, the vertical E-mills required a high power input as they ran for extended periods. To reduce grinding time and hence save power expenditure, the cement producer called upon Walchandnagar Industries Ltd to design, engineer, manufacture, supply and install a vertical roller mill for petcoke grinding. By L N Kshirsagar, Walchandnagar Industries Ltd and Rajeev Shrivastava, ACC Ltd, India. Walc... |
India: Assam property developers concerned over cement price rise24 August 2016, Published under Cement NewsThe Assam Real Estate and Infrastructure Developers Association (Areida) has said that a proposed rise in cement prices is “unreasonable”, the Times of India reports. Following intervention by Assam’s Chief Minister, Sarbanada Sonowal, the cement companies elected not to go through with the price increase. Despite this, Areida has said that it will still approach the Competition Commission of India (CCI) with its concerns. Areida President, PK Sharma, said: "The price of cement in Assa... |
Birla completes acquisition of Reliance Cement23 August 2016, Published under Cement NewsBirla Corporation announced that is has completed the acquisition of Reliance Infrastructure subsidiary, Reliance Cement. The deal was valued at about INR48bn (US$715.6m). Reliance Cement becomes a wholly-owned subsidiary of Birla, whose production capacity now reaches 15.4Mta, up from 9.8Mta, as a result of the deal. Reliance Cement operates a 5.08Mta integrated capacity at Maihar (Madhya Pradesh) and Kundanganj (Uttar Pradesh) as well as a 0.5Mta grinding unit at Butiburi (Maharashtra).... |
India Cements: 1Q16 EBITDA edges up to INR2.05bn19 August 2016, Published under Cement NewsIndia Cements saw its net sales slip to INR12.02bn in April-June 2016 from INR12.12bn in the corresponding period of the previous year. The company's EBITDA for the quarter rose to INR2.05bn from INR2bn in 1Q15. While volumes were higher YoY, in terms of MoM trend, tonnages were lower. Elections in Tamil Nadu and an easing of price during April and May impacted the sales. However, pricing has picked up in June and July, according N Srinivasan, India Cements' vice-chairman and MD. Durin... |
India: 10 Gebr Pfeiffer mills for Shree Cement18 August 2016, Published under Cement NewsKolkata-based Shree Cement, one of Gebr Pfeiffer’s best customers, has placed an order for 10 mills. This deal will support the Shree Cement’s continuing expansion strategy, which aims to distribute several cement works across India and produce cement in stand-alone grinding terminals. Gebr Pfeiffer will supply MVR 6000 R-6 raw mills, each with a capacity of about 550tph and an installed drive power of 6700kW. The order will come equipped with MPS 2800 BK coal mills that feature a 720kW d... |
Sagar Cement to invest US$22m in new capacity18 August 2016, Published under Cement NewsIndia-based cement producer Sagar Cement has announced that it plans to spend INR1.45bn (US$22m) over the next two years to expand its operations, the Hindu reports. The sum includes INR660m (US$10m) to purchase a 1.8Mta grinding unit currently owned by Toshali Cements in Bayyavaram, Andhra Pradesh. Sreekanth Reddy, Executive Director, Sagar Cement, said: “This acquisition will bring down logistics cost and facilitate Sagar to introduce slag cement in parts of Andhra Pradesh and Odisha”. ... |