Cement News tagged under: indian subcontinent

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Ambuja Cements appoints new CHRO

20 December 2023, Published under Cement News

Ambuja Cements has appointed Manoj Kumar Sharma as its new chief human resources officer (CHRO), effective from November this year. In his new position, Mr Sharma will be responsible for succession planning, HR transformation, leadership development, HR strategy, executive coaching, and talent management.   He joins Ambuja from Adani Electricity where he held the role of senior executive vice president of Human Resources. He has also previously worked at Adani Green Energy, Adani Po...

Ambuja Cements announces green power investment

18 December 2023, Published under Cement News

Ambuja Cements has announced plans to invest INR60,000m (US$723m) in renewable energy, resulting in green power accounting for 60 per cent of its energy requirements. According to the company, 1000MW of solar and wind power projects are planned, including a 600MW solar power project and a 150MW wind project in Gujarat, along with a 250MW solar power project in Rajasthan. This will be achieved by FY25-26 in addition to the company’s existing 84MW of solar and wind power.  Ambuja is also ...

Pakistan: navigating uncertainty

18 December 2023, Published under Cement News

Pakistan continues to face political and economic uncertainty, while the government has to find solutions to the impact of flood damage caused by last year’s devastating monsoon. The cement sector is in a capacity expansion cycle, but domestic sales have been on a downward trend, while prices have risen steeply to match coal price increases.   Pakistan has seen slowing economic growth and political uncertainty in recent years, while relief efforts following devastating floods conti...

Adani Group commits to investment in Bihar

15 December 2023, Published under Cement News

The Adani Group has announced plans to invest an additional INR87,000m (US$1046m) in the Indian state of Bihar. The money will be spent across a number of sectors, including its cement business. So far Adani has invested around INR8500m in the Bihar region but plans to create an additional 10,000 jobs in the state through its spending plans, according to The Telegraph.  “Bihar is now an attractive investment destination in the country. We are currently present in logistics, gas distribu...

UltraTech targets 85% green power by 2030

14 December 2023, Published under Cement News

UltraTech Cement aims to increase the share of green energy in its total energy mix from the current 22 to 60 per cent by FY25-26 and 85 per cent by 2030. According to its Managing Director, KC Jhanwar, the company has been consistently scaling up the green energy mix in its total power requirement over recent years with the aim of meeting its entire electricity requirement from renewable sources by 2050.  To help meet this target, UltraTech has invested in a number of new initiatives ...

Sanghi Industries announces changes at the top

11 December 2023, Published under Cement News

India-based Sanghi Industries Ltd has announced a number of resignations from its board of directors. Ravi Sanghi tendered his resignation as chairman and managing director, with effect from 7 December 2023. Also resigning from the company are executive directors, Aditya Sanghi, Alok Sanghi, Bina Mahesh Engineer, Nirubha Balubha Gohil, along with the following independent directors: Sundaram Balasubramanian, Raina Dilip Desai, Arvind Motilal Agarwal and Gurudeo Yadwadkar. With effect from t...

Shree Cement makes move into mining sector

08 December 2023, Published under Cement News

Shree Cement is reportedly planning to bid for lithium mining rights in Jammu and Kashmir, as part of the company’s venture into the mining sector. According to Reuters, an estimated 5.8Mt of deposits were found in February this year. The cement producer is also believed to be looking at blocks in the eastern state of Chhattisgarh. An Australian-based mining company is advising Shree on the bid. If successful in acquiring the lithium block, Shree Cement plans to set up a US$600-700m re...

FCCL becomes third-largest producer in Pakistan with new plant

01 December 2023, Published under Cement News

Pakistan’s Fauji Cement Co Ltd (FCCL) has successfully commissioned its new 2.1Mta greenfield cement plant in Shadan Lund, Dera Ghazi Khan. The new facility has boosted the company’s total cement production capacity to 10.6Mta making it the third-largest cement producer in the company. According to the company, the project, which features state-of-the-art equipment including emissions control and a waste heat recovery plant, was completed in a record time of 13 months. FCCL also initiat...

UltraTech Cement eyes up Kesoram Industries

27 November 2023, Published under Cement News

UltraTech Cement has reportedly expressed an interest in acquiring Kesoram Industries and is already carrying out due diligence on the company. According to CNBC, UltraTech is exploring two options: buying out the existing promoter or just acquiring the cement business of Kesoram. Kesoram currently operates in two markets, cement and rayon, with a cement production capacity of close to 10Mta across  Karnataka and Telangana .  Current shareholders in Kesoram Industries are the existi...

Sarbottam Cement issues IPOs in Nepali first

24 November 2023, Published under Cement News

Sarbottam Cement has become the first Nepali company to float its initial public offerings (IPOs) at the book building price. According to myRepublica, the cement producer has opened its IPOs for institutional investors with a deadline of 26 November 2023, imposing a cut-off price of NPR401/unit (US$3.00/unit) and a ceiling price of NPR601.50/unit. The Securities Board of Nepal (Sebon) has given its approval for Sarbottam to float 12.9033 per cent of its issued capital of NPR4.65bn. Of ...