Displaying items by tag: India
India: Dalmia Bharat has launched a fine blend composite cement product called Dalmia FBC. The product is a mix of slag and silica and it is intended to combine the properties of Portland Slag Cement and Portland Pozzolona Cement. The new brand was launched by BK Singh, Senior Executive Director, Group Marketing and Communications, Dalmia Bharat Group and Indrajit Chatterji, Executive Director Sales and Marketing (East) Dalmia Bharat Cement.
Shree Cement completes acquisition of Union Cement
12 July 2018UAE: India’s Shree Cement has completed its acquisition of Union Cement. Shree Cement has purchased a 97.61% in the company. It is the company’s first acquisition outside of India. Union Cement operates a cement plant Ras Al- Khaimah.
India: Jaiprakash Associates has secured an order worth US$415m from Chenab Valley Power Projects. The deal is to build a diversion tunnel and concrete face dam for a hydroelectric project in Jammu and Kashmir, according to the Economic Times newspaper. The company is currently attempting to sell its remaining cement production assets to ACC.
Birla White to launch four new products by 2020
09 July 2018India: Birla White, a subsidiary of UltraTech Cement, plans to launch four new products by 2020. Research and development for the new products is underway at present, according to the Hindu newspaper. The white cement producer is also planning to increase its exports to 10% of its total volume by 2023. At present it exports 3% of its total volume. The company operates one cement plant at Rajashree Nagar in Rajasthan.
Cemtech Sanghi cement plant project stuck in limbo
09 July 2018Kenya: Construction of the Cemtech Sanghi cement plant in West Pokot has not started since the project was announced in 2010. The US$120m unit was launched by Indian investors and given rights to mine limestone and produce cement, according to the Standard newspaper.
India: Dalmia Cement (Bharat) has appointed Ujjwal Batria as its chief operating officer. Batria will be in charge of leading the company's sales, marketing, logistics, manufacturing, logistics, manufacturing and technical services departments, according to the Economic Times newspaper. He holds 33 years of industry experience with roles such as the chief executive officer (CEO) for Nuvoco Vistas (formerly Lafarge India) and positions at the cement divisions of Tata Steel and Century Textiles & Industries.
Indian Supreme Court bounces Binani Cement insolvency case to National Company Law Appellate Tribunal
02 July 2018India: The Supreme Court has ordered the National Company Law Appellate Tribunal (NCLAT) to adjudicate upon all issues relating to the Binani Cement insolvency case, including whether Ultratech Cement’s bid for the company is eligible. The case will be heard by the appeals tribunal from mid-July 2018, according to the Mint newspaper. The NCLAT is the body that processes appeals from the National Company Law Tribunal, a legal body that adjudicates disputes between companies.
UltraTech Cement made a direct bid of US$1.12bn for the bankrupt Binani Cement following an auction in March 2018 that was originally won by Dalmia Bharat. Dalmia Bharat has disputed UltraTech Cement’s offer and the two companies have conducted legal campaigns to reinforce their respective claims.
India: UltraTech Cement has commissioned a 1.75Mt/yr grinding unit at its Manawar plant in Dhar District, Madhya Pradesh. The main part of the 2.5Mt/yr integrated plant was commissioned in April 2018. A 13MW waste heat recovery unit is also being built at the site.
Shree Cement commissions mill at Kodla plant
28 June 2018India: Shree Cement has commissioned the cement grinding mill at its Kodla cement plant in Karnataka. The mill has a cement production capacity of 3Mt/yr. The new integrated plant was proposed in early 2017 with a clinker production capacity of 2.8Mt/yr. It had an investment of US$260m and was scheduled to be completed by the end of 2018.
India: LafargeHolcim’s subsidiary ACC is in talks to buy Jaiprakash Associates’ remaining cement business. It plans to buy the production capacity of 5.5Mt/yr for US$763m by mid-2018, according to sources quoted by the Economic Times newspaper. Jaiprakash Associates is selling the last parts of its former cement assets to reduce its debts.
The proposed deal includes plants in central India with clinker production capacity of 4.4Mt/yr and a cement grinding capacity of about 3.3Mt/yr, the company's 74% stake in Bhilai Jaypee Cement, a joint venture with Steel Authority of India, and the Nigrie grinding plant.
Jaiprakash Associates previously agreed to sell three cement plants to Orient Cement in mid-2017 but this deal was cancelled after a delay of one year. Prior to this the company sold six integrated cement plants and five grinding plants to UltraTech Cement for US$2.5bn in 2017. Following the sale of its remaining cement assets, the company will primarily an engineering, procurement and construction contractor in road and hydroelectric power.