Cement News tagged under: india
Votorantim to sell Shree Digvijay stake to meet SEBI norm, India19 July 2013, Published under Cement NewsShree Digvijay Cement on Thursday said Votorantim Cimentos will dilute a 0.27 per cent stake in the company to meet the minimum public shareholding norm. “The promoter/promoter group intends to sell 0.27 per cent shareholding in the company amounting to 3,82,474 equity shares of the company on the floor of BSE,” the Gujarat-based cement maker said in a Bombay stock exchange filing. Shares would be offered for sale from 22 July - 2 August 2013, unless sold off earlier, it added. Cur... |
HeidelbergCement India to raise capacity further by 201719 July 2013, Published under Cement NewsHeidelbergCement India plans to more than double cement capacity by 2017 by adding some 9Mta of new volumes. The Indian arm of the German cement major has a capacity of 6Mta following the expansion of its clinker and cement grinding plants in Central India earlier this year in Madhya Pradesh and Uttar Pradesh. With the expansion of the plants, the company's cement production capacity in India has been hiked from 3.1Mta to the present 6Mta. Speaking about the next phase of investments, ... |
Madras Cements to develop beneficiation plant, India17 July 2013, Published under Cement NewsMadras Cements is developing a limestone beneficiation plant at Alathiyur in Tamil Nadu with a capacity of 400tpd. The company will set up this plant near its 3Mta cement plant at Alathiyur. The plant will help the company to upgrade cement raw material resources and extend the life of limestone mines. Once Madras Cements commissions the beneficiation unit, it will establish similar facilities at other plants, according to AV Dharmakrishnan, CEO of Madras Cements. Once the beneficia... |
Birla Corp to raise capacity to over 13Mta, India12 July 2013, Published under Cement NewsIndia's Birla Corporation plans to expand its cement capacity over the next three years involving an investment of INR25bn to raise capacity from 9.3Mta to 13.8Mta. Harsha Lodha, chairman of the Birla Corp told the Times of India: "Some of the money would be invested in the company's already announced projects like the 3Mta cement plant at Talavadi, 1.5Mta unit at Chanderia and 1Mta plant in Assam, and also in some other projects yet to be formally approved by the board." The Assam proje... |
UltraTech Cement commissions Karnataka clinker plant, India11 July 2013, Published under Cement NewsUltraTech Cement said it has commissioned its 3.3Mta clinker plant at Malkhed in Karnataka, taking capacity from 53.9Mta to 57.2Mta. The company continues to invest in new capacity to consolidate its position as India's cement market leader. In its annual report for 2012-13 (Apr-Mar), UltraTech Cement said it has already spent INR43bn of the INR114bn capital expenditure plan. By 2015 the company targets a capacity of 64.45Mta. Latest local news reports also state that the company is ... |
Indian producers forced to make 10% provision of CCI fine10 July 2013, Published under Cement NewsThe 11 cement companies fined by the Competition Commission of India (CCI) last year will be forced pay 10 per cent of the total amount levied in the June quarter of this year. The Supreme Court has instructed the companies in question to abide by the Competition Appellate Tribunal’s directive to pay 10 per cent of the INR60bn (US$1.1bn) record high fine issued for cartel practices back in June 2012. The top four cement companies — ACC, Ambuja Cements, UltraTech Cement and Jaiprakas... |
Shree Cement places major order with Gebr Pfeiffer09 July 2013, Published under Cement NewsKolkata-based Shree Cement has awarded Gebr Pfeiffer (Germany) and its subsidiary Gebr Pfeiffer (India) Pvt Ltd a contract for five vertical roller mills. Shree Cement is currently expanding its presence outside the Rajasthan market in the west, with the construction of a greenfield plant in the state of Chhattisgarh and a grinding plant in Bihar state to serve the east India market. The new order comprises three type MVR 6000 C-6 cement mills, each with an installed drive power of 6700k... |
India: power advantage for Madras Cements05 July 2013, Published under Cement NewsAnalysts predict that Madras Cements Ltd should record 9-10 per cent volume growth through FY14 and FY15 on the back of power generation projects, additional capacity and a gradual improvement in the cement market. Given that power comprises a significant portion of cement production costs and given Madras Cements’ presence in the power-starved southern states of Tamil Nadu and Andhra Pradesh, the new captive power source is a huge advantage for the company over its peers. The company ... |
Indian cement prices mount June recovery05 July 2013, Published under Cement NewsAll-India cement prices saw an uptrend led by price hikes across all regions in the country. The southern region saw an average price rise of INR30/bag (US$0.50), the highest among all regions, which took the all-India average June 2013 prices to INR308/bag (US$5.10) as compared to INR294/bag (US$4.86) in May 2013. In the east and west region, prices advanced by INR15-20/bag, which took average prices in the east and west region to INR333/bag and INR306/bag, respectively, for June 2013.... |
Indian capacity expansion rate to slow05 July 2013, Published under Cement NewsFaced with overcapacity, the Indian cement industry is likely to slow expansion with an extra 66Mt expected by 2015-16 amidst an expected surge in demand and price, Care Research said. "Over the past few years, cement industry has witnessed huge capacity addition. The capacity has increased from 219Mt in FY09 to 325Mt in FY13, registering a CAGR of 10.4 per cent," said Care Research, a unit of Care Rating. Given the huge surplus prevailing in the industry, the pace of capacity building w... |