Displaying items by tag: India

India: Ratna Cements has inaugurated its Mudhol cement plant in Karnataka after competing modernisation work. Following its previous upgrade in 2016, the plant had an integrated capacity of 365,000t/yr and an additional grinding capacity of 73,000t/yr. The Hindu newspaper has reported that parent company MRN Group marked the occasion of the latest inauguration with an announcement that it plans to build a new 1Mt/yr cement plant adjacent to the existing one in Mudhol.

MRN Group chair Murugesh Nirani noted importance of the group’s work to create jobs for Karnataka.

India: Ambuja Cements has signed new memoranda of understanding (MoU) with the government of Tamil Nadu for the construction of three grinding plants in the state. Business Today Online News has reported that the plants are part of US$5.14bn in planned capital expenditure (CAPEX) investments in Tamil Nadu by parent company Adani Group.

Karan Adani, CEO of the group’s shipping subsidiary Adani Ports, said "Today's Tamil Nadu is a standout example of stability, a well-established industrial ecosystem, advanced infrastructure, total connectivity, safe and secure neighbourhoods, business-friendly policies with an able and efficient team of officers and a diverse and highly-skilled workforce with more women in the ranks than anywhere else in the country."

India: The Saffron Growers Association (SGA) has said that cement plants in Kashmir are causing dust pollution, to which the association attributed the decline of the local saffron industry. Down to Earth News has reported that the SGA alleges that the state’s traditional crop has ceased to be profitable because of extra costs arising from the fall of dust during flowering season. The association added that pollutants such as nitrous oxides (NO_x) and sulphur dioxide (SO₂) can also affect saffron’s growth.

The SGA called on authorities to regulate the construction of cement plants and their emissions more closely.

India: Adani Group subsidiary ACC has completed its acquisition of the outstanding 55% stake in Asian Concrete and Cements for US$93.2m. The Economic Times newspaper has reported that ACC expects the acquisition to strengthen its market position in North India.

Asian Concrete and Cements owns the 1.3Mt/yr Nalagarh cement plant in Himachal Pradesh and the 1.5Mt/yr Rajpura cement plant in Punjab. The assets raise the installed capacity of ACC to 38.6Mt/yr and that of Adani Group to 77.4Mt/yr. It plans to reach 106Mt/yr in the 2026 financial year, and 140Mt/yr in the 2028 financial year.

India: UltraTech Cement has deployed five electric clinker trucks at its Dhar cement plant in Madhya Pradesh. Asian News International has reported that the trucks will convey clinker to the producer’s Dhule grinding plant in Maharashtra. The company expects the trucks to reduce its CO₂ emissions by 680t/yr.

UltraTech Cement is committed to electrifying 500 vehicles across its operations by the end of June 2025.

India: The government’s Income Tax Department fined Shree Cement US$481m on 5 January 2024. The fine is for the company’s use of falsified bills in relation to a non-existent waste management plant to claim US$1.02bn-worth of tax deductions between April 2014 and March 2023.

The Economic Times newspaper, breaking the story, reported that neither Shree Cement nor the Income Tax Department has yet issued a statement.

India: The Office of the Deputy Commissioner of Income Tax, Kanpur, Uttar Pradesh, has issued a show cause notice to JK Cement with regard to possible short payments, non-payments or erroneous refunds, including associated interest, worth US$279,000.

Reuters has reported that the company expects ‘no material impact’ on its operational, financial or other activities due to the notice.

India: UltraTech Cement says that it has received demand orders from two local revenue authorities for issues relating to its past tax payments. The Financial Express Online newspaper has reported that the producer must pay a total of US$86,600, including interest and fines. Office of the Deputy Commissioner of State Tax, Bhavnagar, Gujarat, demanded US$56,400 due to an allegedly ineligible input tax credit. Meanwhile, the Office of the Assistant Commissioner of Central Goods and Service Tax Division II, Punjab, demanded US$30,200 due to input service distributor credit not reflected in its statement for the 2018 financial year.

UltraTech Cement plans to challenge the orders, to wit the company said that it has a ‘good case on merit’ to present before appellate authorities.

Thailand: Siam City Cement has appointed Ranjan Sachdeva as its Acting Group Chief Executive Officer (CEO) from the start of January 2024. He succeeds the former Group CEO Aidan Lynam in the position. Lynam had been in post since 2019.

Sachdeva has worked for Siam City Cement since 2017, first as the Group Head Internal Audit and Compliance and then as the Group Chief Financial Officer, from April 2023. Prior to this he worked in procurement and audit roles for Holcim in India. He has also worked for Vedanta and Nestle during his career. He holds a bachelor of engineering from the Thapar Institute of Engineering & Technology and a master of business administration (MBA) degree from the University of Leicester, among other qualifications.

India: Wonder Cement says that it has completed the construction of its new Tulsigam grinding plant in Gujarat. The Economic Times newspaper has reported that the new grinding plant will integrate with Wonder Cement’s existing facilities, including the Nimbahera cement plant in Rajasthan, and grinding plants in Haryana, Madhya Pradesh, Maharashtra and Uttar Pradesh.

The Tulsigam grinding plant will raise Wonder Cement’s capacity to 18Mt/yr, following the expansion of the Nimbahera cement plant to 11Mt/yr and the inauguration of the new Aligarh grinding plant in 2023.

Wonder Cement director Vivek Patni said "Each strategic move, including our new Tulsigam grinding unit, is aligned with our commitment to cater to India’s evolving infrastructural demands. We're poised for continued growth and are deeply committed to quality, innovation and societal impact."