Displaying items by tag: OCL India

India: Day six of India's coal block auctions, on 19 February 2015, saw UltraTech Cement win the Bicharpur mine in Madhya Pradesh, which has 29.1Mt of coal reserves, for a bid of US$48.3/t. UltraTech beat ACC, Hindalco Industries, Jaypee Cement and OCL India, among others.

Aditya Birla Group's Hindalco Industries won the Gare Palma IV-5 block for US$56.3/t. The mine has estimated extractable reserves of 42.4Mt. It beat a number of rivals, including Ambuja Cement. Jindal Power Ltd won the Gare Palma IV-2 and 3 coal mines in Chhattisgarh, which have extractable coal reserves of 156Mt, for an estimated US$270m.

India: Dalmia Group is looking at a merger of its listed cement companies Dalmia Bharat and OCL India, according to industry sources. As part of the restructuring plan, Dalmia Bharat will also merge its unlisted arm, Dalmia Bharat Enterprises, with itself. Global private equity firm KKR owns a 14.5% stake in Dalmia. Bharat Enterprises will eventually own a minority stake in the merged listed entity.

Dalmia Bharat and OCL India have revived plans of the merger after a failed attempt in 2008. Dalmia Bharat owns 48% stake in OCL India and both companies together have a cement capacity of close to 20Mt/yr. The new entity would be the fourth largest cement producer in the Indian cement industry.

India: OCL India, an associate company of Dalmia Cement Bharat Ltd, has invested US$102m in the Bengal Cement Works plant in Paschim Medinipur Distict, West Bengal State.

Puneet Dalmia, director of OCL India, said that US$83.1m had already been spent on the project. According to Dalmia, construction of the 2Mt/yr capacity plant began in 2012 and had recently been completed. This was OCL's largest project outside Odisha State.

"This plant marks the initiation of the company's investment cycle in West Bengal,'' said Dalmia. OCL already has two cement plants at Cuttack and Rajgangpur in Odisha. The Bengal Cements Works will be the anchor investor at the Godapiasal Industrial Park.

India: Konark Cement, a subsidiary of OCL India, is building a 1.35Mt/yr grinding plant at Salboni in West Bengal. The cement producer is also intending to use laminated polypropylene (LPP) bags at the unit to minimise wastage.

At present Konark Cement produces seven varieties of cement; OPC 53 grade, OPC 53-S grade, OPC 43 Grade, PSC, PPC (Flyash based), SRPC and masonry Cement, according to OCL India deputy executive director Indrajit Chatterji. OCL India has two cement plants at Kapilash and Rajgangpur in Orissa with a combined production capacity of 5.35Mt/yr.