Cement News tagged under: indian subcontinent
Pakistan’s promising prospects21 September 2021, Published under Cement NewsPakistan’s cement sector performed very well in the FY21, supported by government policies to assist construction activity in the wake of the COVID-19 crisis. Going forward local demand is expected to remain robust, giving rise to new capacity enhancements. Improved pricing power also bodes well for producers in terms of enhanced profitability. By The Pakistan Credit Rating Agency Ltd, Pakistan. Economic growth and government spending on development projects are the main drivers of ce... |
Shree Cement announces INR47.5bn investment plan15 September 2021, Published under Cement NewsIndia’s Shree Cement has announced an INR47.5bn (US$645m) investment plan, which includes solar power projects, an integrated cement plant and a grinding works. Around INR5bn will be used to set up solar power plants at its cement works across the country by September 2022, while INR7.5bn has been allocated to a clinker grinding project in Purulia, West Bengal, through its Shree Cement East subsidiary. "The cement demand-supply situation in West Bengal appears quite favourable and thus, ... |
Nuvoco Vistas sees improvement in first quarter07 September 2021, Published under Cement NewsIndia’s Nuvoco Vistas Corp has recorded a consolidated net profit of INR1.14bn (US$15.58m) in the first quarter of the fiscal ending 30 June 2021, compared to an INR913.8m net loss in the year-ago period. Consolidated revenue from operations also surged to INR22.03bn from INR8.42bn in the 1QFY20-21. "In spite of the countrywide lockdown, the company achieved exceptional volume growth in the quarter ended 30 June 2021. With a thrust on innovation and premium products, leveraging synergy be... |
Gujarat Sidhee Cement to shut clinker line for maintenance07 September 2021, Published under Cement NewsIndia’s Gujarat Sidhee Cement is planning to shut down the clinker line at its Sidheegram plant for annual maintenance, which is expected to take a period of 17-20 days to complete. However, cement grinding and dispatches are still planned to continue. |
Huaxin Cement Narayani prepares to begin production31 August 2021, Published under Cement NewsHuaxin Cement Narayani is expected to start cement production within two months following the completion of the cement works in the central Dhading district of Nepal, according to Xinhua. The China-Nepal joint venture has a cement capacity of 3000tpd. Construction began in 2019, but the completion of the project was delayed by floods, disputes over land acquisition and the COVID-19 pandemic. |
Cherat Cement sees turnover rise 47% YoY31 August 2021, Published under Cement NewsPakistan's Cherat Cement Co has posted a profit of PKR3.21bn (US$19.29m) for the financial year ended 30 June 2021, according to a bourse filing. The company had recorded a loss of INR1.89bn for the FY19-20. Net turnover also advanced 47 per cent YoY to INR25.21bn in the FY20-21, compared to INR17.09bn in the previous year. |
Indian cement prices down 4% MoM24 August 2021, Published under Cement NewsAt an all-India level, cement prices fell four per cent MoM basis from INR369 (US$4.98)/50kg bag in July to INR356/bag in August, according to Kotak Institutional Equities. Central India was the least hit with a price correction of INR3/ bag in August, while some regions have recorded drops as steep as INR30/bag. "Dealers in large states like Madhya Pradesh and Uttar Pradesh report a strong pick-up in trade sales in August after a weak July 2021 led by the monsoon. Dealer feedback for ce... |
KJS Cement records 36% advance in profit24 August 2021, Published under Cement NewsIndia’s KJS Cement has seen a 36.4 per cent YoY rise in profit to INR654.4m (US$8.83m) for the year ended 31 March 2021, against INR479.6m in the FY19-20. EBITDA was up 5.5 per cent to INR1.99bn. Cement and clinker sales reached 1.72Mt and 0.59Mt, respectively, a considerable increase driven by demand from infrastructure projects. "KJS Cement has recorded strong performance across all parameters this year; despite the challenging ecosystem due to the pandemic,” said Pawan Kumaar Ahluwalia... |
Ambuja Cements begins trial production at Marwar facility23 August 2021, Published under Cement NewsIndia’s Ambuja Cements has begun trial production at its Marwar cement works in Nagaur district, which will increase the company’s clinker capacity by 3Mta. The plant was built with an investment of INR23.5bn (US$316.45m) and includes a waste heat recovery system alongside 1.8Mta of cement grinding capacity. "I am delighted to inaugurate the trial run at Marwar Cement plant of Ambuja as we dedicate it to meet the infrastructure requirements of the nation. Cement is one of the most impo... |
Star Cement reports 50% growth in profit17 August 2021, Published under Cement NewsIndia’s Star Cement has seen its standalone net profit grow 50.4 per cent YoY in the quarter ending 30 June 2021, increasing to INR541.8m (US$7.3m) from INR360.3m. Net revenue was up 76.7 per cent YoY to INR5.04bn from INR2.86bn in the April-June quarter of the previous fiscal. |