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Cement Industry News
Binani Industries approaches to NCLT over Binani Cement sale
JK Cement has received approval for an upgrade at its Mangrol cement plant near Chittorgarh in Rajasthan. The plant will have an investment of US$312m, according to Accord Fintech. Following the expansion the plant will have a cement production capacity of 4.2Mt/yr. Cement grinding will be supported by units in Uttar Pradesh and Gujarat.
Neeraj Akhoury, the managing director and chief executive officer of ACC Cement, says that a ban on imported petcoke to the National Capital Region will increase the cost of cement. Akhoury told the Business Standard newspaper that the cement producer would be able to cope with the restriction through the use of alternative fuels. The Environment Ministry put the ban into effect on 19 January 2018 to control air pollution. This follows a relaxation of a temporary ban on petcoke in December 2017
India Cements has launched a product promotional offer where customers could win Chennai Super Kings (CSK) merchandise and a chance to meet the players. Under the scheme, any customer purchasing 50 bags or in multiples of 50 bags (50 kg) of Coromandel Super Power between 19 January and 19 April 2018 will be eligible for entry into the promotion, according t the Press Trust of India. Prizes include match tickets, branded clothing and photo opportunities with the captain Mahendra Singh Dhoni and
JSW highest bidder for Binani Cement
Dalmia Bharat to acquire bankrupt Murli Industries
Dalmia Bharat to bid for Binani Cement - Dalmia Bharat Cement has made an agreement with the Piramal Bain Resurgence Fund to jointly bid for Binani Cement. The deal will see the two companies make an offer for Binani’s two plant in Rajasthan, according to the Economic Times newspaper. Binani Cement has debts of US$530m and the potential buyers are aiming to pay around US$930m. Binani Cement became insolvent following a US$110m royalty payment to state government for its limestone quarries. Other
Nilesh Shah bets big on cement, auto component sector.
Consolidation gathering pace in India
Cement producers cross about Indian tax classification
Road projects, the real stimulus package, says N. Srinivasan
The government has announced its plan to build 83,677 km of roads over the next five years.Most of the cement companies rose today, riding on the back of the newly announced government plans to spend Rs 6.9 lakh crore for building and expanding the network of roads in the country. The new development is expected to benefit cement companies.
Green shoots of GST benefits in building materials; go grab
Top cement players eyeing Binani Cement assets post insolvency nod by NCLT Read more at: http://economictimes.indiatimes.com/articleshow/59955851.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Birla Corporation has proposed building a US$375m cement plant at Mukutbandh near Nagpur in Maharashtra. Company chairman made the announcement following the company’s annual general meeting, according to the Press Trust of India. The proposal will now go to the company’s board for approval. The plant will have a production capacity of 4Mt/yr. It will be financed from a mixture of debt and internal funds.
Chettinad Cement has received approval from the Odisha State-level Single Window Clearance Authority (SLSWCA) for an investment proposal to build a 2Mt/yr cement grinding plant at the Kalinga Nagar Industrial Complex in Jajpur district. The project is budgeted at US$36m, according to the Press Trust of India.
The Cement Manufacturers' Association (CMA) has elected Mahendra Singhi, the group chief executive officer (CEO) and director of Dalmia Cement (Bharat), as its new vice president. Singhi has previously served as president of the Rajasthan Manufacturers Association. He is a science and law graduate by training and also a chartered accountant.
Indian cement demand expected to grow by 5% in 2017 – 2018 says ICRA
ACC’s sales have risen as its Jamul cement plant in Chhattisgarh has ramped-up production increasing its presence in the east of the country. Its sales rose by 12.7% year-on-year to US$1bn in the first half of 2017 from US$888m in the same period in 2016. Its cement sales volumes rose by 6.9% to 13.3Mt from 12.5Mt. Its net profit after tax rose by 12.5% to US$83m from US$74m. The subsidiary of LafargeHolcim also launched two new brands – ACC Suraksha and ACC HPC – in the preceding quarter.
The Cement Manufacturers Association (CMA) says that demand for cement is likely to grow in the second half of the Indian financial year due to the new Goods and Services Tax (GST) and increased infrastructure spending. The cement industry is also expected to benefit from a 30% reduction in logistic costs due to simplified state border checks, according to the Press Trust of India. The CMA’s forecast follows a fall in growth for the cement industry in the previous financial year
JSW launches cement plant just 18 months after breaking ground
Ambuja Cement buys limestone resources in Maharashtra - Ambuja Cement has purchased a limestone block in the Chandrapur district of Maharashtra. An estimated limestone resource of 42Mt was acquired via state auction for a price of 125% of the value of mineral dispatched. Formal confirmation via the state government is expected to follow soon.
Odisha approves Ambuja Cements to build grinding plant - Odisha’s State Level Single Window Clearance Authority (SLSWCA) has approved a proposal by Ambuja Cements to build a 1.5M/yr cement grinding plant at the Industrial Growth Centre, Jharsuguda. The proposed unit will use an area of 125 acres, according to the Press Trust of India. It is expected to create 300 direct and indirect jobs. Once complete the plant will join the company’s five integrated cement plants and eight grinding plants.
Indian cement producers continue to defend prices
Indian cement makers meet Nitin Gadkari; extend support towards fair pricing for cement
15 companies express interest in building cement plants near to NTPC power plants
High GST on cement is a missed opportunity to spur growth: CMA
ACC and Ambuja Cement consider merger options
Ambuja Cement launches fly ash and slag cement product
PACIFIC CEMENT EXPECTS STRONG SALES IN FY2017 RESULTS
Ambuja Cement supplies 0.3Mt of cement towards Chenani-Nashri tunnel project
ACC Cement announces capex plan of Rs 600 crore for 2017
Government reveals more detail on plan to sell non-operational units of Cement Corporation of India
ACC has sold its 12.1% in Shiva Cement to JSW Cement for US$5.8m. Following the sale JSW Cement now holds the entire promoter holding in Shiva Cement, according to the Mint newspaper. In January 2017 JSW Cement announced that it was making an open offer to buy out Shiva Cement. Shiva Cement operates a 0.2Mt/yr cement plant in Rourkela, Odisha.
Indian government to build cement plants near power plants to use fly ash
NTPC plans to make cement, seeks partners Read more at: http://economictimes.indiatimes.com/articleshow/57182561.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Neeraj Akhoury has been appointed managing director and chief executive officer (CEO) of ACC with effect from 4 February 2017. He joined the board of ACC in December 2016.
India Cements’ sale rise in third quarter despite demonetisation
JSW Cement has increased the capacity of its Bellary cement grinding plant in Vijay Nagar to 3.4Mt/yr from 1Mt/yr. The cement producer said that the additional capacity would help it strengthen its distribution network throughout south of the country. The chairman and managing director of JSW Group, Shri Sajjan Jindal, and other dignitaries inaugurated the new unit.
Demonetisation to derail cement sector growth: India-Ratings and Research
Ambuja Cement launches cashless campaign to cope with demonetisation
'Cement industry to see pick up in demand from next month'
Demonetisation halves cement demand in November 2016
Demonetisation: For India Cements, it's business as usual so far
LafargeHolcim increases stake in Ambuja Cement and ACC
Cement makers hope to dodge latest fine from Competition Commission of India
ACC starts production at Sindri Cement Grinding unit in Jharkhand
Cement Firms Seen Reporting Strong Profit Growth In The September Quarter
Cement demand to grow by 8% in 2017 – 2018 financial year says JK Cement
India: Dalmia Cement Bharat has launched its Dalmia DSP Cement brand of cement. Senior Executive Director and group head B K Singh told the Press Trust of India that this new product will make concrete buildings more durable and it will be packaged to prevent water damage, allowing for longer storage times. The product will be released first in Tamil Nadu before a phased introduction in other states in the south of the country.
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