Displaying items by tag: India

India: Ramco Cement has increased its stake in Lynks Logistics to 69% following its acquisition of a 23% stake in the company for US$273,000. The group previously invested US$700 in a 46% stake on 27 January 2020.

India: The Odisha State Level Single Window Clearance Authority (SLSWCA) has approved two cement and slag grinding plant projects in Odisha. It has granted JSW Cement permission for an upgrade to its upcoming 1.2Mt/yr Kalinga Nagar, Odisha slag cement grinding plant that will increase the finished plant’s capacity to 2.4Mt/yr at an additional investment cost of US$359,000. JSW Cement restarted work on the facility, which will grind Ordinary Portland Cement (OPC) and granulated blast furnace slag (GGBS), in September 2018 after suspending the project due to leasing issues in 2016.

Sagar Cements subsidiary Jajpur Cements has also received clearance from the SLSWCA for the construction of a 1.5Mt/yr grinding plant on the site of the existing 0.5Mt/yr Jajpur Cements grinding plant in the Kalinga Nagar Industrial Complex in Jajpur District, Odisha. The project, valued by the company at US$44m, is scheduled for completion in March 2021. Sagar Cements acquired Jajpur Cements on 7 May 2019 for US$16m.

India: GM Iron & Steel Company Limited has published plans for the construction of a 0.4Mt/yr slag cement grinding plant in Dhenkanal, Odisha. United News of India has reported that the plant is part of an upcoming construction materials complex, including a 46MW captive power plant, that will cost US$82.7m, according to the company.

India: Shree Cement has signed a sponsorship deal with East Bengal Kolkata, one of two Kolkata, West Bengal-based football teams that compete in the I-League, the top flight of Indian football. The Economic Times newspaper has reported that the company has promised to let the club retain its ‘iconic red-and-yellow jersey’ and crest.

India: Ambuja Cement has appointed Rajani Kesari as its chief financial officer (CFO). She succeeds Sonal Shrivastava, who has moved to a new role in LafargeHolcim Group.

Kesari holds over 26 years of experience in accounting, finance, taxation, audit and general management in manufacturing, pharmaceutical as well as auditing and consulting companies. She is currently the CFO of ACC, another subsidiary of LafargeHolcim. Prior to that she was the Head of Finance for Asia Region for LafargeHolcim Group. She joined LafarqeHolcim Group in 2018 from Schneider Electric, an energy management and automation company where she was the CFO for East Asia and Japan Zone.

Kesari started her career in 1991 in finance and auditing with Lovelock & Lewes. Apart from LafargeHolcim Group, she has worked in senior positions with organisations including KPMG, Dr Reddy's Laboratories and Schneider Electric. Kesari is a qualified chartered accountant from ICAI, a Cost Accountant from ICWAI and a certified public accountant from the American Institute of Certified Public Accountant.

India: JK Cement has appointed Sushila Devi Singhania as the chairperson of its board. She has been a director of the cement producer since 2014. She also holds directorships with Yadu International and GH Securities, as well as leading roles with several educational organisations in Kanpur, Uttar Pradesh.

Denmark: FLSmidth has appointed Tamer Eid as the new president for the Australia region, with effect from 14 September 2020, and Claudio Garcia Bernal as president for the South America region. The group also announced that Ramanathan (Ram) Chandran, who was appointed president for the Subcontinental India region in August 2020, will start his role on 4 September 2020.

Tamer Eid has held various senior executive and technical roles in the mining and oil and gas sectors including working with Weir in the US and UK and in various senior roles within Outotec. He holds an MBA and a degree in mechanical engineering. He will be based out of FLSmidth’s Welshpool facility in Perth, Australia.

Claudio Garcia Bernal previously served as acting president for the South America region since April 2020. Ramanathan Chandran joins FLSmdith from Minerals Technologies Inc. where he was Vice President (Minteq Asia) & MD (Minerals Technologies India).

India: JK Cement’s profit in the three months ended 30 June 2020, the first quarter of the 2021 financial year, was US$6.85m, down by 62% year-on-year from US$18.1m in the first quarter of the 2020 financial year. Revenues fell by 28% to US$138m from US$191m. The company said, “The operations and business performance of the group during the quarter ended 30 June 2020 was adversely impacted by the shutdown of the group's plants at various locations due to the lockdown announced by the government after the outbreak of the Covid-19 pandemic in March 2020.”

India: JK Cement says that it will sell its white cement, formerly JK White Cement, under the new name ‘WhitemaxX.’ The Economic Times newspaper has reported that the new name “strengthens JK Cement’s core commitment to delivering the maximum to its consumers and partners with a focus on consistent and premium product quality,” according to the company.

JK Cement is the world’s third largest white cement producer and it exports WhiteMaxX to 43 countries.

India: Sustainable roofing specialist Visaka Industries has acquired a 20-year patent for production of ATUM, a roofing system consisting of cement boards with integrated solar panels. The company says that the product, which has been in development since 2016, is both insulative and capable of generating up to 28W/m2 of power.