Cement News tagged under: india
UltraTech in talks to buy Mozambique mine19 April 2012, Published under Cement NewsAditya Birla group's UltraTech Cement - India's largest cement maker, is in talks to acquire a large limestone mine in Mozambique for about INR1500 crore. According to reports in the Economic Times of India, negotiations between the Mumbai-based company and the mine owner began two months ago and could subsequently result in UltraTech constructing a 1-2Mta cement plant in the southeast African country. Demand in Mozambique has been growing at 8-9 per cent annually, a source familiar with th... |
Jaypee plans capacity hike, India18 April 2012, Published under Cement NewsIndia’s Jaypee Group is aiming to increase cement capacity to around 50Mta over the next five years from 33.5Mt, the Economic Times of India reports. Shiva Dixit, vice president of Jaiprakash Associates (the flagship company of the diversified Jaypee Group) told local press that “Our current capacity is 33.5Mt. By the end of this year, it will reach to 36Mt. We are evaluating various locations and are targeting to touch 50Mta cement capacity over next five years.” Jaiprakash is current... |
UltraTech Cement appoints additional director, India18 April 2012, Published under Cement NewsUltraTech Cement’s board of directors have appointed M Damodaran as an additional director (independent) with effect from 16 April 2012, the company said in a statement to the Bombay Stock Exchange. |
Indian cement corporate announcements13 April 2012, Published under Cement NewsUltraTech Cement has informed that the NJ Jhaveri has resigned from the board of the company with effect from 4 April, 2012, according to a filing to the Bombay Stock Exchange (BSE). Meanwhile, Shree Digvijay Cement Company has also informed the BSE that Alvaro Joao Serra Nazare, a director of the company has resigned from his directorship with effect of 1 April 2012. |
India cartel ruling expected in 15 days12 April 2012, Published under Cement NewsIndia’s Competition Commission said it will be at least 15 days before it issues its final report on an alleged cartel by 39 cement companies. "There will be 2-3 meetings of the members. So far, there had been no sittings. It will take at least 15 days for us to prepare the final report," a senior CCI member told PTI. CCI is probing an alleged cement cartel on various fronts including selling prices and the creation of artificial shortages by producing less than capacity. |
Cartel ruling expected shortly, India11 April 2012, Published under Cement NewsA ruling by the Competition Commission of India (CCI) on an alleged cartel by cement companies is expected imminently, with a negative verdict likely to negatively affect profits and pricing power, according to sources. “Rumours of penalties of cement companies by CCI has been doing the rounds time and again,” said Vivek Mahajan, head of research at Aditya Birla Money. Brokerage Macquarie said in a March-end report said it expects penalties of about seven per cent of total revenue (las... |
Fives Pillard strengthens its position in Indian combustion market10 April 2012, Published under Cement NewsThe Fives group has acquired CBL Combustion Systems, an Indian company specialising in the design and supply of combustion equipment used mainly in the energy (burners for industrial boilers and thermal power plants) and minerals (cement) sectors. CBL, which markets its offer both on the basis of its own technologies and those of Fives Pillard, has adopted the name of Fives Combustion Systems Pvt Ltd and the Fives group’s visual identity. Fives Combustion Systems, headquartered in Mumbai, ... |
Bihar cement prices rise as supplies fall, India09 April 2012, Published under Cement NewsCement prices in the Indian state of Bihar have risen by almost 50 per cent due to increased construction activity and the temporary shutdown of a nearby Prism Cement unit, the Economic Times of India reports. Bihar, situated in eastern India, has no major cement production facilities and relies on cement from plants located in Satna, MP, where prices have been rising due to heightened building activity. Compounding the issue is the shutdown of Prism Cement’s Satna unit which satisfies a ... |
Shaasta Cement plans Karnataka clinker line, India06 April 2012, Published under Cement NewsShaasta Cement Corporation, India, is planning the construction of a 2.25Mta clinker production line in Gulbarga district, in the state of Karnataka. The project is planned for completion in 2014. |
Zuari subsidiary to expand Sitapuram unit, India06 April 2012, Published under Cement NewsSri Vishnu Cement, India, is planning to expand its clinker manufacturing capacity at Sitapuram, district Nalgonda, in Andhra Pradesh, from 1.1Mta to 2Mta. Sri Vishnu Cement, part of Zuari Cement, expects work to commence in 2015 and be completed within 18 months. |