Displaying items by tag: Asia

India: UltraTech Cement has commissioned a 7.5MW hybrid renewable energy project at its Sewagram cement plant in Gujarat. The on-site system combines bifacial solar modules with trackers, wind power and battery storage to provide uninterrupted energy without reliance on the grid. The project was developed with energy provider Gentari. The company aims to increase the share of renewable energy in its power mix to 65% by 2027 and 85% by 2030. As part of its RE100 commitment, UltraTech aims to meet 100% of its electricity needs through renewable sources by 2050.

Pakistan: Kot Addu Power Company (KAPCO) and Fauji Foundation have submitted a binding offer to acquire Pharaon Investment Group’s entire 84% stake in Attock Cement, according to Pakistan Today news. Each acquirer intends to purchase 42% of the company’s issued and paid-up capital.

KAPCO confirmed the development in a notice to the Pakistan Stock Exchange. The offer remains subject to acceptance by the seller, execution of a share purchase agreement, regulatory approvals and other conditions. The partners first declared their intention to jointly acquire control of Attock Cement in June 2025.

India: Leading cement producers have broadly reported ‘strong’ performances in the three months to 30 June 2025, driven by increased government spending on key infrastructure projects. They expect their bottom lines to continue to rise in the rest of the 2026 financial year (FY2026), which ends on 31 March 2026, with coal and petcoke prices expected to remain at a lower level than in FY2025.

UltraTech Cement reported 10% growth in its cement sales volumes in the first quarter of FY2026, to 36.8Mt, helped by acquisitions of India Cements and the cement business of Kesoram Industries. Adani Group subsidiary Ambuja Cements also reported its highest-ever sales volumes, of 18.4Mt. Birla Corporation’s sales volumes rose by 9% per cent to 4.8Mt, while Nirma Group subsidiary Nuvoco Vistas reported sales volumes of 5.1Mt.

However, some companies, including Shree Cement, saw their volumes decline due to geopolitical tensions in the North of India. Dalmia Bharat's sales volumes fell by 6% to 7.4Mt, impacted by the discontinuation of tolling volumes from Jaypee Cement, while Ramco Cements reported a 7% decline due to early monsoon rains in Kerala.

In the near-term future, demand is expected to be flat in the second quarter of FY2026 due to the monsoon season. However, companies anticipate growth in the third and fourth quarters of the year, with volumes growth of around 7% anticipated across the whole of FY2026.

India: JK Cement’s board has approved greenfield expansions totalling 7Mt/yr. The projects include a 4Mt/yr clinker line and 3Mt/yr grinding plant at Jaisalmer, Rajasthan, and two split grinding units of 2Mt/yr each in Rajasthan and Punjab. The investment is estimated at US$549m.

India: JSW Cement plans to triple its production capacity. Managing director Parth Jindal said that the company has a current production capacity of 20Mt/yr and sufficient resources to scale up organically. Internal accruals will fund expansion to 42Mt/yr, with a qualified institutional placement or follow-on offerings considered for further expansion or acquisitions.

Jindal said that the company’s primary route will be organic growth, but that it remains open to acquisitions if strategic opportunities arise. He added that India’s cement industry is expected to grow by 6–7% in the 2026 financial year, driven by increased government infrastructure spending.

Indonesia: PT Solusi Bangun Indonesia (SBI) is developing a pier and cement production facility at its Tuban plant, East Java, to export up to 1Mt/yr to the US in collaboration with Taiheiyo Cement, according to national news agency Antara.

Corporate communications manager Novi Maryanti said that the project was a priority amidst the contraction of the domestic cement market. Maryanti said “With our large export capacity, we are optimistic that we can maintain the company's profitability and expand our contribution to the national economy.”

SBI, 83.5% owned by SIG, operates four plants in Narogong, Cilacap, Tuban and Lhoknga with a combined capacity of 14.8Mt/yr and more than 2000 staff.

Vietnam: Vietnam’s cement sector is in the midst of a turnaround, as local newspaper The Star reports that several companies published profits despite pressures from oversupply. Vicem Ha Tien Cement reported consolidated sales of over US$73.6m in the second quarter of 2025, with a net profit of US$4.41m, compared to a loss of US$0.36m in the first quarter of 2025. This marks the company’s highest profit and ends an 11-quarter run of poor results.

Revenue rose by 1% year-on-year, while net profit increased by 146%, supported by an 8.5% rise in cement consumption and lower costs from improved production cost control.

Kyrgyzstan: Cement production in the Chui region rose to 867,300t in the first half of 2025, up from 476,400t in the same period in 2024, according to Central Asia News. The region now accounts for 50% of the country’s cement production, up from 35% a year earlier.

Türkiye: OYAK Cement reported sales of US$574m in the first half of 2025, with earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$140m and a net profit of US$88m.

Vice chair of the board and CIMPOR global chief financial officer Eralp Tunçsoy said “As of the first half of 2025, we have realised an investment expenditure of US$69m. With our investments, we are strengthening our leading position in the cement sector. We plan to reap the rewards of the high-value investments we have recently made in energy efficiency and sustainability in the coming years.”

Tunçsoy said “Despite the ongoing uncertainties in global markets, we are determinedly continuing our efforts to increase our footprint in the global cement market. We are present in all markets outside of our Turkish operations with our CIMPOR brand and are working to open new export channels.”

Pakistan: Fauji Cement posted a record net profit of US$46.8m for the 2025 financial year, up by 62% from US$28.8m in 2024. Annual revenues reached US$314m, an 11% year-on-year increase, supported by a 6% rise in despatch volumes. For the fourth quarter of the 2025 financial year, the company reported earnings of US$17.3m, reflecting a 232% year-on-year rise and an 83% quarter-on-quarter increase.