Cement News tagged under: india
India: tender causes 'CSR obligation' query02 October 2013, Published under Cement NewsThe Companies Act that came into force from this year has mandated that companies have to set aside at least two per cent from their net profit for expenditure on corporate social responsibility (CSR). But the rules issued by the Ministry of Corporate Affairs note that CSR cannot be interpreted as the main business activity of a company. The expenditure has to be over and above it, but this tender shows the companies can potentially claim a part of their business expenditure as CSR. State-r... |
India: rejuvenating a cement brand under HeidelbergCement01 October 2013, Published under Cement NewsHaving advised HeidelbergCement AG in its acquisition of the SK Birla-owned Mysore Cement, Ashish Guha, CEO of HeidelbergCement India (HIL), has steadily been rebuilding HeidelbergCement India. It was seven years ago when Daniel Fritz, who headed the multinational’s Asia Pacific market, asked Guha if he would be willing to take up the position of CEO and managing director of HIL. Apart from Mysore Cement, the new entity would include Indorama Cement, which HeidelbergCement had bought earl... |
India: Binani seeks power entry30 September 2013, Published under Cement NewsTheh Binani group is planning to enter the power generation sector, mostly through acquisitions. The Indian company already has a presence in cement, zinc and glass fibre sectors, but sees the energy market as its next logical way to progress. Binani Industries, the listed entity of the group, is the holding company for Binani Cement and Binani Zinc, both of which were delisted from the bourses. The group has already begun a process of transferring group holding outfit Binani Industries' 1... |
JK Cement expands capacity to support sales volume30 September 2013, Published under Cement NewsJK Cement is increasing capacity by 3Mta through two split-grinding units of 1.5Mta each in Haryana and Rajasthan in the northern region, lifting its grey cement capacity to 10.5Mta. The projects are expected to be completed by June 2014 and should help in realising higher volumes. At present, 2QFY14 results are expected to be subdued due to lower volumes and cement prices. Grey cement volumes are forecast to decline 10 per cent as the company’s southern plant noted a 30 per cent drop in ... |
Jaiprakash shortlists new round of divestments26 September 2013, Published under Cement NewsHot on the heels of selling its Gujarat cement facilities to UltraTech earlier this month, Jaiprakash Associates has initiated talks to sell two units in the Indian state of Himachal Pradesh to further trim its debt. According to local press reports who have cited multiple sources familiar with the deal, Jaiprakash is in talks with potential buyers to sell a 2Mta integrated works and a 2Mta grinding unit, both in the Solan district. Preliminary discussions have begun with a few global a... |
Preview: 13th NCB International Seminar & Exhibition24 September 2013, Published under Cement News13th NCB International Seminar and Exhibition on Cement and Building Materials 19-22 November 2013, Manekshaw Centre, New Delhi, India This biennial event attracts global participation from cement producers, industry experts and other stakeholders active in the world of cement. The NCB’s role is to encourage development and transfer of knowledge through its continuous research and education for the cement and building materials sector in India. Delegates attending the NCB’s Seminar in N... |
HeidelbergCement looks to increase Indian capacity19 September 2013, Published under Cement NewsHeidelbergCement India is looking to raise its capacity in India over the next few years to 15Mta including acquisitions. Speaking to the Financial Express, CEO of the India-based cement producer said: “We have plans to raise capacity to 15Mta in the next three-four years from the current level of 5.4Mta. We will be pursuing both organic and inorganic acquisitions. According to local press speculation, the company is in talks with potential sellers in central India where it already has... |
Mangalam Cement enhances capacity of Kiln Line 1, India17 September 2013, Published under Cement NewsMangalam Cement has resumed operations of Kiln Line 1 which has been undergoing a renovation project to expand capacity. The company informed the Bombay Stock Exchange that the clinker line, which had been halted for upgrades on 6 May 2013, recommenced operations on 16 September 2013. The overall clinker manufacturing capacity has now been enhanced from 1.71Mt to 2.21Mt. The company has also started trial runs of a new 1.25Mta grinding unit. |
UltraTech acquires Jaiprakash's Gujarat assets12 September 2013, Published under Cement NewsJaiprakash Associates Ltd has confirmed it will sell its cement assets in Gujarat to UltraTech Cement Ltd for around INR38bn (US$598m) including debt. UltraTech, the country's largest cement maker by production capacity, will issue shares worth up to INR1.5bn to Jaiprakash and assume debts of about INR36.50bn, the companies said on Wednesday. Jaiprakash Associates has been trying to sell the plant for more than a year and was in talks with several potential buyers, including CRH. Product... |
UltraTech on verge of signing Jaiprakash Associates deal11 September 2013, Published under Cement NewsUltraTech Cement is reportedly on the verge of signing a deal with Jaiprakash Associates to acquire the latter’s cement assets in the Indian state of Gujarat. Following months of negotiations, the agreement is expected to be signed today, according to local press speculation. Both Jaypee and UltraTech are expected to make the announcement simultaneously in Delhi and Mumbai, respectively. The Gujarat units have a capacity of 4.8Mta and will help increase UltraTech’s presence in western Indi... |