Cement News tagged under: india
India: Jaypee Cement eyes acquisition24 June 2013, Published under Cement NewsJaypee Cement (JC), the country’s third-largest producer (Jaiprakash Associates/Japyee Group), is looking at an acquisition, having recently dumped its plan to sell off its Gujarat plant. “In the near future, the group plans to expand its cement capacities via acquisitions and greenfield additions to maximise economies of scale and build on vision to focus on large-size plants from inception,” said Ashutosh Kumar, JC’s joint president of marketing. Before that, though, JC would be conce... |
India: Jaypee shelves Gujarat plant sale, eyes further expansion21 June 2013, Published under Cement NewsJaypee Cement has decided to defer plans to sell its Gujarat unit and is now looking to expand capacity through acquisitions and the construction of new plants. “We did not get the right valuation. So we have shelved plans for selling the Gujarat unit,” Ashutosh Kumar, Joint President (Marketing), Jaypee Cement told local press. “We were in discussions with some parties. But, as of now we are comfortable in terms of cash position, Kumar said. According to local reports, India’s large... |
Proposal for Nagaland cement plant, India19 June 2013, Published under Cement NewsThe state government of Nagaland, India, plans to establish a cement factory to meet local requirements and export to Southeast Asian markets. Chairman of the Nagaland State Mineral Development Corporation (NSMDC) Thomas Lotha said the proposed plant had been initiated in view of the huge economic potential of the state’s mineral deposits, according to reports by United News of India. Plans to export quantities are in line with the central government’s ‘Look East policy’ to enhance econom... |
Ambuja Cements' Rajasthan works expected by 201517 June 2013, Published under Cement NewsAmbuja Cements Ltd plans to establish a 4.5Mta cement plant in the northwest Indian state of Rajasthan by 2015. "Board approval is expected by end CY13; work at the plant site has already started – environmental clearances obtained, limestone mine ready, land acquisition process begun," Citi Research said in a note prepared on the comments of Ambuja Cements' management at the India Investor Conference organised by Citigroup on Monday. Ambuja Cements, which is 50.3 per cent controll... |
India: Sagar Cements to invest INR1200m in railway line14 June 2013, Published under Cement NewsSagar Cements Ltd will invest INR1200m |(US$20.8m) in a private railway line to improve its market reach and cut freight costs. The 7km line will connect the company’s plant, near Matampally in Nalgonda district of Andhra Pradesh, with the main railway line. Of the proposed investment of US$20.8m, INR980m (US$16.9m) is to come from debt and the remaining from internal accruals. “Completion of this line will lead to better efficiencies and savings in costs. INR200m has already been inves... |
ACC targets ready-mix concrete sales14 June 2013, Published under Cement NewsACC has devised an action plan, including product innovation, to strengthen its ready-mix concrete business. The 77-year-old company has lined up a series of ready-mix concrete products to push sales. Holcim-owned ACC is betting on the affluent and demanding lifestyle of GenNext to push its environment-friendly products. If used in open spaces like car park or garden pathway, Permecrete can allow rainwater to seep through for recharging groundwater table. Notwithstanding the product innova... |
FLSmidth to supply greenfield plant for Orient Cement14 June 2013, Published under Cement NewsFLSmidth has received an order worth in excess of around US$35.7m from Orient Cement Ltd for the supply of main equipment for a greenfield cement plant to be located in the state of Karnataka, southern India. The plant will have a capacity of 6000tpd. The order covers engineering and supply of main equipment from limestone crusher to packing plant. Included in the scope of supply are key components for raw material crushing equipment, limestone, coal and additive stores, raw material grind... |
India: HeidelbergCement gets shareholders nod to raise up to INR20bn13 June 2013, Published under Cement NewsHeidelbergCement said its shareholders have accorded approval for raising funds up to INR20bn (US$340m) through borrowings. The shareholders had approved the proposal at its annual general meeting that took place on 16 May, HeidelbergCement said in a BSE filing. Shareholders have delegated to Board the authority "for borrowing from time to time, as it may think fit, any sum or sums of money not exceeding INR20,000m on such security and on such terms and conditions as the Board may deem f... |
SC refuses to interfere with COMPAT order against Indian cement firms13 June 2013, Published under Cement NewsThe Supreme Court declined to interfere with the order of the competition tribunal directing 10 cement firms to deposit 10 per cent of the penalty of INR63bn (US$1.08bn) imposed on them for allegedly indulging in cartelisation. However, the apex court slightly modified the order of the Competition Appellate Tribunal (COMPAT) by extending the deadline of 16 June to 24 June for depositing the amount with the tribunal. It also added that the 10 per cent amount deposited by each company sha... |
Squeeze tightens on Indian cement13 June 2013, Published under Cement NewsMuted volume growth and continuing cost pressures have put a further squeeze on the earnings of Indian cement companies with a disappointing 15 per cent YoY fall in EBITDA/t in Q4FY13. Among the large companies, only HeidelbergCement managed to report an improvement while UltraTech Cement, Dalmia Cement and Prism Cement all reported flat EBITDA/t during the quarter. Volumes declined one per cent YoY over the same period, significantly below the government’s recently revised 7.3 per cent in... |