Cement News tagged under: india
Indian government notes signs of cement sector recovery19 March 2012, Published under Cement NewsThe Indian government has noted a recovery in the cement sector and announced adjustments to the excise duty in its Union Budget 2012-13. While presenting the Union Budget 2012-13 (April-March) in parliament, Pranab Mukherjee, Minister of Finance said: "Data of last quarter of 2011-12, suggests that the economy is now turning around. There are signs of recovery in coal, fertilisers, cement and electricity sectors. These are core sectors that have an impact on the entire economy. Indian ma... |
Bangladesh cement exports rise19 March 2012, Published under Cement NewsBangladesh manufacturers and exporters of cement, salt and stone have reported YoY growth of 46.33 per cent in the first eight months of FY2011-12 (July-February). Of these three items, cement accounted for the largest amount as over 200,000t is exported annually while volumes of salt and stone volumes amount to only a few thousand. According to the Export Promotion Bureau (EPB), Bangladesh's manufacturers exported US$9.76m worth of cement, salt and stone in July-February 2011-12 compared ... |
Ambuja Cements investment update, India16 March 2012, Published under Cement NewsAmbuja Cements, part of the Holcim Group, plans to invest INR18bn (US$358m) by December 2013 to increase capacity. The investment will be funded through internal accruals. As of the quarter ended December 31, the company had a cash surplus of INR77bn, India Investment News reports. The Indian cement major plans to establish a 2.2Mta clinker plant at Naguar in Rajasthan, for which a feasibility study has been completed and environmental clearance obtained. Ambuja Cement has also initiat... |
Jaiprakash Power Ventures to enter cement business, India16 March 2012, Published under Cement NewsJaiprakash Power Ventures Ltd has planned to raise up to INR3500 crore to fund its expansion projects and is also entering the cement sector. Its board of directors has authorised raising of funds/resources through various domestic / international options. The funds are to meet the company’s ongoing projects and/or the projects of its joint venture and subsidiary companies as also issuance of further equity shares under institutional placement programme. The company has also decided to... |
Fitch rates Rain Commodities at 'Fitch A-(ind)'; outlook stable15 March 2012, Published under Cement NewsFitch Ratings has assigned India's Rain Commodities Limited (RCOL) a National Long-Term rating of 'Fitch A-(ind)'. The Outlook is Stable. However, ratings are constrained by volatility in cement prices and sector overcapacity. Fitch has taken a consolidated view of RCOL's cement and calcining businesses, both operated by its subsidiaries, for the rating purpose. While India's Rain Cement Ltd ('Fitch A-(ind)'/ Stable) holds the cement operations, RCOL's calcining business is operated in I... |
India reports rise dispatches14 March 2012, Published under Cement NewsIndian cement dispatches registered 16.29Mt in February 2012, an increase of 9.8 per cent on February 2011, data from the Cement Manufacturers Association (CMA), shows. In terms of month on month (MoM) growth, February dispatches edged ahead to 16.29Mt from 16.25Mt in January 2012. Production, meanwhile, reached 16.21Mt last month, representing an 8.9 per cent YoY increase (14.89Mt in Feb 2011). On a MoM basis, production slipped to 16.21Mt in February 2012 from 16.45Mt in January 2012. ... |
Grasim appoints managing director, India08 March 2012, Published under Cement NewsThe Aditya Birla Group of India on Tuesday appointed KK Maheshwari as managing director of Grasim Industries as the company prepares to grow its businesses in India and overseas. Maheshwari, who has been whole-time director of Grasim until now will assume charge as MD immediately, a post created for the first time in the history of the 65 year old company. "The Grasim board decided to have a managing director to assist the chairman in implementing growth plans for the company," Maheshwari ... |
Shriram EPC to buy 68% stake in Jayajothi Cement, India07 March 2012, Published under Cement NewsShriram EPC confirmed it would buy a 68 per cent stake in Sree Jayajothi Cements Ltd, along with its group companies, reports the Business Standard of India. The acquisition will be carried out by Shriram EPC and a special purpose vehicle floated by other Shriram Group companies. Last month the paper reported that the Shriram Group was planning to acquire a stake in the Andhra Pradesh-based cement producer by converting its dues into equity. Speaking to Business Standard, Shriram EPC m... |
Ambuja production rises 11.28%, India05 March 2012, Published under Cement NewsAmbuja Cements reported an 11.28 per cent rise in production in February 2012 to 1.99Mt from 1.79Mt in February 2011. Meanwhile, dispatches reached 2Mt compared with 1.77Mt the year before, representing a rise of 12.74 per cent. For the first two months of the current calendar year, cement production and dispatches were 3.9Mt and 3.92Mt, respectively compared with 3.64Mt and 3.61Mt in the same period of 2011. |
Mangalam Cement grinding plant project order, India05 March 2012, Published under Cement NewsFor its new cement grinding plant, Mangalam Cement Ltd. selected a grinding system from ThyssenKrupp Polysius. The new grinding plant is to be installed in Aligarh near New Delhi in the Indian state of Uttar Pradesh. It is to be a combi-grinding system consisting of POLYCOM high-pressure grinding roll with two 1060kW drive units, a SEPOL-PC high-efficiency separator and a 3.6m x 8m ball mill with a drive power of 1300kW. The grinding plant will have a rated cement output of 150tph. |