Cement News tagged under: india
India: UltraTech to complete Jaypee acquisition ‘in next 12 months’20 July 2016, Published under Cement NewsBirla Group chairman, Kumar Mangalam Birla, told his firm's annual general meeting that its UltraTech Cement subsidiary should complete its acquisition of Jaypee Cement within the next 12 months, the Economic Times reports. The deal, which will see UltraTech acquire cement production capacity of 21.2Mta, was agreed earlier this month, despite efforts from Jaypee’s creditors that saw them convert debt into equity. On completion, UltraTech – already India’s largest producer – will contro... |
India: Shree Cement wins bid for 80,000t of coal19 July 2016, Published under Cement NewsShree Cement has announced that it has won a bid to be supplied with 80,000tpa of coal from state-owned firm South Eastern Coalfields Ltd (SECL), reports the Economic Times. The deal will see Shree pay INR970/t (US$14.45/t) for the grade 11 coal – in line with the prevailing prices charged by SECL. Earlier this month, UltraTech agreed a deal to pay over INR1500/t for coal to supply cement plants in Maharashtra. That today’s deal is lower-priced reflects the lower energy density of the ... |
India: four critically injured at plant in Sindri18 July 2016, Published under Cement NewsFollowing a blast in the hot air generator on Saturday, four contract workers at a cement plant in Sindri, India, were severely injured. The injured were taken to Bokaro General Hospital where their condition is said to be critical. Surendra Singh, senior manager of the plant, said the four men were working near the generator, which is used to supply hot air to the rolling mill, when there was a blast in the pipeline. The workers sustained severe burns from the incident. They were immedia... |
India: Kerala businesses protest high cement prices15 July 2016, Published under Cement NewsThe Government Contractors Association (GCA) in Kerala has hit out at the state government’s failure to control cement prices, which have reached INR430 (US$6.40) for a 50kg bag, the Deccan Chronicle reports. The head of the GCA in Kerala, Varghese Kannampally, noted that production costs for a bag of cement are about INR70 (US$1.04). Mr Kannampally observed that in neighbouring Tamil Nadu, the state government had reached an agreement with producers to supply agreed quantities of cement ... |
Conch offer shows price just one factor in Lafarge deal14 July 2016, Published under Cement NewsChina’s Anhui Conch lost out in the race to acquire Lafarge India despite the fact that its offer of INR95bn (US$1.4bn) was higher than the INR94bn bid submitted by Nirma Group, the eventual winners. In an article published today, Mint examines some possibilities behind Anhui’s failure. The paper dismisses suggestions that the Competition Commission of India intervened directly to block its bid but does lend support to the idea that Lafarge was happier to reach agreement with a domestic f... |
India: Nirma to acquire Lafarge India for US$1.4bn11 July 2016, Published under Cement NewsLafargeHolcim has announced that it has reached agreement with Nirma Group for the sale of Lafarge India. The deal - valued at US$1.4bn - will see Nirma acquire assets that include 11Mta of grinding capacity and several limestone quarries. Nirma has won out against four other bidders: China’s Anhui Conch, Mexican firm Cemex, and domestic firms JSW Cement and Piramal Group. The Competition Commission of India still needs to approve the move, but given Nirma’s small existing presence in the... |
India: Birla eyes September completion of Reliance acquisition11 July 2016, Published under Cement NewsBirla Corporation has said that it expects to complete its acquisition of Reliance Cement by September, Gulf Today reports. The US$711m deal was initially struck in February 2016 and will raise Birla’s cement capacity from 10Mta to 15.5Mta, as well as securing access to mineral concessions. A group of Birla shareholders took the company to court in an effort to block the deal, but this was rejected by the Kolkata High Court in May. Birla Corporation chairman Harsh V Lodha said: “The ac... |
India: Sagar production rates fall11 July 2016, Published under Cement NewsSagar Cements’ reported production and sales figures for June 2016 are down when compared to the figures from June 2015. Cement production stood at 130,035t in June 2016, a one per cent drop from the 130,905t reported in June 2015. Sales figures for the month stood at 123,409t, down 20 per cent from 154,032t reported in the same month the previous year. For the period April-June 2016, production was down two per cent at 425,275t compared to 435,860t for the same period last year. Cement s... |
India: modernised MCCL almost ready for commercial production11 July 2016, Published under Cement NewsThe modernised plant at Mawmluh Cherra Cements Ltd (MCCL) is expected to begin its commercial operation in two weeks’ time, acording to the Sholling Times. MCCL managing director, Sanjay Goyal, said the works requires certain clearances from the Central Excise department and a pollution clearance before it can start commercial operation. He said the INR1000m (US$14.8m) modernised facility is currently producing around 300-350tpd of cement, although it has the capacity to produce 600tpd. ... |
Sri Lanka: Holcim exit causes tension with China and India08 July 2016, Published under Cement NewsThe possible takeover of Holcim Lanka Ltd by China Resources Cement Holdings Ltd, a subsidiary of the state-owned China Resources Group, is expected to cause tension with India as the world's largest cement-producing country extends its influence on the island. With strong current positions in the Colombo and Hambantota harbours, this deal would also give China a presence in Galle and Trincomalee in addition to consolidating its presence in Colombo. Holcim presently owns the Ceylon Ambuja... |