Displaying items by tag: India

India: India Cement net profit fell to US$2.74m in the year to 31 March 2019 from US$9.56m in the same period in 2018. It blamed competition in the south of the country and low prices in the first nine months of the year. Its power and fuel costs also rose during the period. Despite this its income grew by 6% year-on-year to US$836m from US$785m. Its cement sales volumes rose by 11% to 12.4Mt from 11.2Mt.

Bhutan: Dungsam Cement has reduced its loss in 2018 by increasing its production volumes. It reported a loss of US$0.43m in 2018 from US$10.3m in 2017, according to the Bhutan Broadcasting Service. Its cement production volume more than tripled to 0.63Mt in 2018 from 0.2Mt in 2014.

The plant at Nganglam has commissioned in 2014 and it has reportedly been making a loss since then due to a loan. The cement producer has suffered from a low production capacity utilisation rate, as the plant has a production capacity of 1.3Mt/yr and it has had problems exporting cement to India. However, sales to hydroelectric projects in the country have been increasing.

India: JSW Cement plans to double its cement production capacity in the eastern region to 8Mt/yr by 2023 – 24. It currently operates a 2.4Mt/yr plant at Salboni in West Bengal and a 1.5Mt/yr plant at Odhisa, according to the Press Trust of India. It intends to meet the target with a combination of upgrades and new units. It also plans to commission a new captive power plant at Salboni by July 2019.

India: Haver Ibau India has been renamed as Haver & Boecker India since April 2019. The subsidiary of Germany’s Haver & Boecker and its subsidiary Ibau started in 2008. The change in name reflects a broader industry base for the Indian subsidiary to continue to include the cement industry as well as customers from building materials, chemicals and food.

India: Shree Cement’s revenue rose by 24% year-on-year to US$1.80bn in the year to 31 March 2019 from US$1.46bn a year earlier. Its profit fell by 27% to US$146m from US$199m. Its power and fuel costs increased by 56% to US$444m from US$284m.

India: JK Cement’s income rose by 4% year-on-year to US$767m in the year to 31 March 2019 from US$740m in the same period in 2018. Its profit fell by 8% to US$37.9m from US$41m, mainly due to tax expenses.

India: Accusations of violence by local police against activists protesting against a limestone mining lease granted to UltraTech Cement in Gujarat have been referred to the Criminal Investigation Department (CID). Police from Bhavnagar allegedly attacked protestors with batons and used tear without prior provocation during a march in early January 2019, according to the DNA India newspaper. The protestors were complaining about a mining lease for a quarry in the Talaja district.

India: The Container Corporation of India (CONCOR) plans to invest around US$140m towards developing dry ports and related infrastructure as well as buying more railway wagons. The government-controlled organisation, under the remit of the Ministry of Railways, intends to target the cement industry, according to the New Indian Express newspaper. V Kalyana Rama, the chairman and managing director of CONCOR, said that the company wants to increase transportation of bulk cement in the country to reduce inefficiencies.

India: Dalmia Seven, a joint venture between Dalmia Bharat Group and Austria’s Seven Refractories, has launched a new monolithic refractory production line at its Katni plant in Madhya Pradesh. Following the upgrade the unit has a production capacity of 45,000t/yr, according to the Press Trust of India. The new production line is intended to meeting growing demand nationally from the cement, steel and iron industries.

India: Mangalam Cement’s sales revenue rose by 7% year-on-year to US$170m in the year to 31 March 2019 from US$159m in the same period in 2018. It made a loss of US$1.38m compared to a profit of US$1.62m in 2018. Its power and fuel costs grew by 28% to US$54.3m.