Cement News tagged under: indian subcontinent

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Hongshi Shivam Cement looks to double capacity

16 November 2021, Published under Cement News

Nepal’s Hongshi Shivam Cement has announced an additional NPR20bn (US$167.34m) investment to increase production capacity, according to the New Business Age. The company currently has 6000tpd of capacity and is looking to produce an additional 6000tpd. The joint venture will see its Chinese investor contribute 70 per cent of the investment while the Nepali partner will supply the remainder. In addition, as of 13 November, the plant has been linked to the Nepal Electricity Authority for a...

Mangalam Cement sees 17% revenue increase

16 November 2021, Published under Cement News

India’s Mangalam Cement has reported a standalone net profit of INR110.7m (US$1.49m) in the 2QFY21-22, falling 48.1 per cent YoY from INR213.3m in the year-ago period. However, net revenue advanced 17.2 per cent YoY to INR3.76bn from INR3.21bn in the 2QFY20-21.

India’s cautious outlook

08 November 2021, Published under Cement News

A contracted comparison base has helped push the Indian cement sector to a double-digit growth trajectory in 2021. However, there are a number of one-time factors that should be taken into account and further challenges could lie ahead. A more modest demand picture is expected to emerge in the coming years. ICR highlights recent trends in the Indian cement sector and discusses forthcoming factors that could influence cement demand A cut in India’s GDP growth forecast for the ...

Fecto Cement appoints chairman and chief executive

08 November 2021, Published under Cement News

Pakistan’s Fecto Cement has appointed Aamir Ghani and Mohammed Yasin Fecto as chairman and chief executive, respectively, with effect from 1 November 2021. The appointment has been made for a term of three years, according to Pakistan Company News.

Tokyo Cement Co (Lanka) sees revenue up 4%

05 November 2021, Published under Cement News

Tokyo Cement Co (Lanka) has reported a four per cent YoY increase in revenue to LKR11.88bn (US$58.96m) in the third quarter of 2021. However, net profit fell 94 per cent to LKR127m. The quarter saw the company face a weakening rupee, foreign exchange shortage, which caused a delay in opening LCs, shortages and delays in raw material imports, soaring shipping costs and re-imposed lockdowns. While the fuel price increase and a lack of vessels escalated inbound freight rates by over 300 pe...

INSEE Cement adds import vessels to address cement scarcity in Sri Lanka

05 November 2021, Published under Cement News

INSEE Cement has added two more import vessels to its operations in order to increase cement supply across Sri Lanka, according to the Daily Mirror. "INSEE Cement continues to operate at maximum production capacity to ensure the Sri Lankan construction industry remains on its path to a successful recovery," said Gustavo Navarro, INSEE Cement’s CEO. "What the domestic market is experiencing is an artificial scarcity that was first created by importers refusing to release their stocks to...

Dalmia Cement plans new 2Mta plant

03 November 2021, Published under Cement News

India’s Dalmia Cement is planning to set up a new 2Mta grinding plant in Bokaro, Jharkhand, according to the state’s government. The company is expected to invest INR5.77bn (US$77.14m) in the construction of the plant, with work scheduled to begin this month and set to be completed within a year.

Star Cement posts 3% revenue increase

03 November 2021, Published under Cement News

India’s Star Cement has posted a standalone net profit of INR229.4m (US$3.07m) in the quarter ending 30 September, falling 39.8 per cent YoY from INR381.2m in the same period of the previous fiscal. However, net revenue saw a modest improvement of 3.4 per cent to INR3.98bn from INR3.85bn.

Lanwa Sanstha Cement to begin operations in 2022

02 November 2021, Published under Cement News

Sri Lanka's Lanwa Sanstha Cement is now expected to commence operations in January 2022, when it opens a US$80m plant in the Mirijjawila Export Processing Zone, Hambantota. The production capacity of the plant is estimated to be 3Mta, according to Daily News (Sri Lanka). "One of the highlights of the first-of-its-kind facility in Sri Lanka would be the emphasis on the latest technology, where all mixing will be carried out with latest European technology while many of the other equipme...

Dalmia Bharat sees 11% climb in revenue

28 October 2021, Published under Cement News

India’s Dalmia Bharat has reported a 10 per cent decline in net profit to INR2.09bn (US$27.93m) during the September quarter of FY21-22, compared with INR2.32bn in the year-ago period. “In spite of unprecedented cost-related headwinds across regions, our razor-sharp focus on operational efficiencies and execution has helped us contain our costs and deliver industry-leading performance,” said the company’s managing director, Puneet Dalmia. Consolidated revenue from operations was up 11.4 p...