Displaying items by tag: India

India: Rajputana Properties, a subsidiary of Dalmia Bharat, has requested that the Supreme Court consider a review of its decision to dismiss a plea challenging the National Company Law Appellate Tribunal's (NCLAT) order allowing UltraTech Cement to acquire Binani Cement. The Supreme Court is scheduled to consider the review request in early January 2019, according to the Financial Express newspaper. UltraTech Cement declared that Binani Cement was its subsidiary in November 2018 following a protracted legal battle with Dalmia Bharat. It changed its name to UltraTech Nathdwara Cement in December 2018.

India: A probe by the Ministry of Corporate Affairs (MCA) has found ‘serious’ financial irregularities in the accounts of Burnpur Cement. The regional director of the MCA has recommended an investigation of the company, according to the Business Standard newspaper. The MCA has also recommended that the cement producer be barred from making interest payments without government permissions in the interest of its shareholders. The company was reported as a non-performing asset in 2016 and its repayment schedule to lenders has been monitored in the media. It made a loss of around US$15m in the financial year that ended in March 2018.

India: UltraTech Cement has created a joint venture with Amplus Energy to expand its solar power generation capacity. The cement producer has acquired a 26% stake in the Amplus Sunshine, according to VCCircle Network. Amplus Sunshine will set up a 15MW captive solar plant at one of UltraTech’s Cement’s plants for an investment of around US$10m. The cement producer has a capacity of 50MW from its solar power plants but it intends to increase this. Amplus Energy installs rooftop solar power plants for the industrial and commercial sector.

India: Shree Cement has commissioned its 3Mt/yr integrated plant at Kodla, Kalaburagi in Karnataka state. The cement mill and the clinker line at the line were commissioned at the same time in late December 2018.

India: Emami Cement has been granted permission by the National Company Law Tribunal (NCLT) to demerge its solar power assets. The cement producer has decided to focus on its core business, according to the Daily News and Analysis newspaper. The solar business part of the cement producer operates a 10MW plant at Gujarat Solar Park in Patan, Gujarat and a 3MW plant at Perunali in Tamil Nadu. The subsidiary of Emami Group will eventually be consolidated into sister company Emami Power.

India: Germany’s Gebr. Pfeiffer has hosted a customer event for the Indian cement industry at Gurugram near New Delhi. The two-day event in late November 2018 consisted of specialist talks on mineral processing. The equipment producer covered 3D system design, optimising grinding processes, after sales service strategies and other industrial sectors that intersect with the cement industry.

India: Prime Minister Narendra Modi says he wants to reduce the rate of the Goods and Services Tax (GST) on regular items, including cement, to 18% from 28%. A proposal to reduce the rate will be considered by the GST Council in late December 2018, according to the Economic Times. Luxury items are likely to remain in the higher tax bracket.

India: Sanghi Industries has signed a memorandum of interest with the Gujarat state government to expand its Kutch cement plant. It plans to invest around US$213m on the project, according to the Times of Indian newspaper. The plant will be expanded to a cement production capacity of 8.6t/yr from 4Mt/yr. The project is scheduled for completion by 2020 and it will create 350 new jobs.

India: The Central Pollution Control Board (CPCB) has penalised four cement producers in Tamil Nadu for failing to follow emission standards. Chettinad Cement’s plants at Puliyur and Karikkali, Tamil Nadu Cements’ plant at Alangulam, Dalmia Cements’ plant at Salmiapuram and ACC’s plant at Coimbatore have been accused by the Ministry of Environment, Forests and Climate Change for not complying with emission standards for particulate matter, SO_x and NO_x, according to the New Indian Express newspaper. ACC and Dalmia Cements have been fined around US$420/day since 31 August 2018, Chettinad Cement has been fined around US$5000 for a 12 day delay in compliance and Tamil Nadu Cements has been fined over US$23,000 for a delay of 55 days.

India: Chandrababu Naidu, the chief minister of Andhra Pradesh, has laid the foundation stone for Ramco Cements’ new 3.15Mt/yr integrated plant at Kalavatala, Kolimigundla Mandal in Kurnool District. The project has an investment of nearly US$210m. The plant will include a waste heat recovery (WHR) unit and a captive power plant. A 25km railway line from Samjamala has also been proposed to support the plant. Once the required statuary clearances are obtained the plant is expected to take 15 months to build.

Other new projects the cement producer has scheduled include an upgrade at its Jayanthipuram plant in Krishna District to 4.6Mt/yr from 3.1Mt/yr with a 27MW WHR unit. The project has a cost of just over US$100m and it is expected to be commissioned in March 2020. The company is also upgrading the grinding capacity of its Vizag plant to 2Mt/yr from 0.9Mt/yr. This project has an investment of around US$25m and is also expected to be commissioned in March 2020. Once these three projects are completed Ramco Cements says that it will become the largest producer in Andhra Pradesh with a production capacity of nearly 10Mt/yr.

In the east of the country Ramco Cements us building a new 0.9Mt/yr grinding plant in Odisha with a railway terminal for around US$70. This is expected to be commissioned by September 2019. In West Bengal the company is upgrading the grinding capacity at its Kolaghat plant in East Midnapore district to 2Mt/yr from 0.9Mt/yr for around US$60m. This project also includes a railway terminal and it is scheduled for commissioning in April 2019. Altogether the company plans to reach a cement production capacity of 20Mt/yr by 2020 across the country.