Displaying items by tag: India

India: Larsen & Toubro says that it has won a contract to supply a 1.8Mt/yr grinding unit to a site belonging to a ‘leading cement producer’ at Dolvi in Maharashtra. The supplier said that the scope of the work includes civil and mechanical engineering and equipment installation.

JSW Cement operates a 2.2Mt/yr integrated cement plant in Dolvi. It upgraded the plant’s capacity from 1.2Mt/yr in 2019.

India: Anjani Portland Cement has agreed to acquire a further 3% in Bhavya Cements to bring its stake in the company to 92% from 89%. The group says that its aim is to further consolidate its shareholding. In early June 2021, Anjani Portland Cement completed its purchase of an 83% stake in Bhavya Cements to increase its shareholding to 89% from 6%.

India: Synergy Metals Investments Holding has received the Competition Commission of India’s approval via the accelerated ‘green channel notice’ to acquire a minority stake in JSW Cement. The Press Trust of India has reported that the accelerated procedure aims to improve merger regulation through transparent review with a minimal waiting period.

India: Dubai-based Synergy Metals has made an offer and sought the permission of the Competition Commission of India to acquire a minority stake in JSW Group subsidiary JSW Cement. The New Indian Express has reported that JSW Group is seeking to reduce its stake ahead of an initial public offer (IPO) for the producer. The company is valued at over US$2.0bn and is seeking to sell US$200m-worth of stakes.

India: The Department for Promotion of Industry and Internal Trade (DPIIT) of the Indian government has established the Cement Industry Development Council (CIDC) to coordinate the cement sector’s efforts towards eliminating waste, maximising efficiency, increasing standards and lowering prices. The Economic Times newspaper has reported that the DPIIT has appointed Dalmia Bharat chief managing director Puneet Dalmia as head of the CIDC. An initial task for the council will be to recommend steps towards securing full cement capacity utilisation.

India: The Telangana State Pollution Control Board has ordered Cement Corporation of India and Penna Cements to pay pollution fines for breaches of particulate matter restrictions at their respective cement plants at Tandur in Vikarabad district. The Times of India newspaper has reported that both companies exceeded legal limits eight times between November 2019 and July 2021. The board fined Cement Corporation of India US$3210 and Penna Cements US$4410.

India: The board of directors of JSW Cement subsidiary Shiva Cement has voted in favour of allowing the company to take out a loan worth up to US$143m. The company will use the loan for capacity expansion projects.

India: JK Cement has targeted a 10% year-on-year sales growth in its 2022 financial year, which ends on 31 March 2022. The Economic Times has reported that the company foresees sales growth due to the on-going government infrastructure investment push, minimal monsoon disruptions and pent-up cement demand following Covid-19-led disruptions. Cement chief operating officer Rajnish Kapur said that growth momentum from the end of the 2021 financial year will likely continue throughout the coming nine months, despite a Covid-19 led sales drop in the first quarter of the 2021 financial year.

The cement producer also expects that its new cement plant project at Panna in Madhya Pradesh is likely to be completed in the 2023 financial year due to Covid-19 related delays. The plant will bring its total cement production capacity to around 20Mt/yr from nearly 15Mt/yr at present once it is finished. The company is also considering acquisitions to further increase its capacity to 25Mt/yr by the mid-2020s.

India: The Kerala state government aims to establish 25% state ownership of the cement industry locally. The New Indian Express newspaper has reported that the policy aims to control rising cement prices. The government said that state-owned Malabar Cements and Travancore Cements will increase their cement production. The former has already lowered its cement prices, according to the administration.

India: The government of Andhra Pradesh will subsidise the purchase of cement for 122,000 new houses in rural Guntur district under its Housing for All scheme. The Hans India newspaper has reported that builders have laid the foundations of 14,000 of the properties, and will have completed a further 46,000 by the end of the working day on 9 July 2021. District revenue collector Vivek Yadav said that the administration will announce further housing projects under the scheme after builders complete 116,000 units.