Displaying items by tag: India

India: UltraTech Cement sold 27.3Mt of cement during the third quarter of the 2024 financial year, up by 6% year-on-year from third-quarter levels in the previous financial year. 26.1Mt (95%) of sales were in India, representing a 5% year-on-year rise in UltraTech Cement’s domestic sales. Throughout the quarter, the company produced 25.4Mt of grey cement and 480,000t of white cement, Press Trust of India News has reported.

UltraTech Cement’s 23 cement plants, one clinker plant and 29 grinding plants commanded an installed capacity of 138Mt/yr on 1 January 2024.

India: Adani Group took a US$200m loan from Qatar National Bank earlier in December 2023. The Telegraph India newspaper has reported that the conglomerate will put the funds towards refinancing its pre-existing US$3.5bn loan for its acquisition of Holcim India.

Adani Group aims to control 140Mt/yr of cement production capacity by 2027.

India: UltraTech Cement has signed a deal to acquire a 26% stake in renewables company Clean Max Terra. The Free Press Journal has reported that the cement producer expects Clean Max Terra help it to meet its renewable energy needs, optimise its energy costs and comply with regulatory requirements for captive power consumption.

India: Ambuja Cements has appointed Manoj Kumar Sharma as its Chief Human Resources Officer. He has worked in human resources since the 1980s with a 12-year stint at Aditya Birla Group from the early 1990s. He also holds management experience at a number of Adani Group subsidiaries since the late 2000s including senior postings at Adani Infra, Adani Power, Adani Green Energy and Adani Electricity. Sharma is a graduate of DAV College in Chandigarh and holds post-graduate credentials.

India: Hemadri Cements has appointed K Suryanarayanan as its chief financial officer (CFO). He is a qualified chartered accountant who holds over 25 years professional experience. Suryanarayanan has previously worked as a CFO for companies including Lancor Holdings, Accel, GET Power and VVD Group.

Hemadri Cements manages an integrated cement plant at Jaggayyapet in Andra Pradesh.

India: Shree Cement inaugurated its new 4.2Mt/yr Nawalgarh cement plant in Rajasthan on 14 December 2023. The plant boasts an 11,500t/day kiln, which is among the largest in India, according to the company. Following the inauguration, Shree Cement’s installed production capacity now stands at 53.4Mt/yr.

Managing director Neeraj Akhoury said “In our pursuit to become an 80Mt/yr company by 2028, we are excited to announce commissioning the kiln in our new integrated facility at Nawalgarh, Rajasthan. This facility is well suited to cater to the high consumption cement markets of National Capital Region, Punjab and Haryana, besides strengthening the company’s customer servicing capability in Rajasthan.”

India: Sanghi Industries has appointed Sukuru Ramarao as its chief executive officer (CEO). He succeeds Ravi Sanghi, who was the chair and managing director, following the acquisition of a majority stake in the company by Adani Group subsidiary Ambuja Cements. Sanjay Kumar Khajanchi has been appointed as the chief financial officer, Manish Mistry as company secretary and Ajay Kapur as chair of the company’s board of directors.

Sukuru Ramarao holds over 35 years of professional experience in the building materials sector. He started working for Ambuja Cements in the late 1990s, eventually becoming the company’s chief manufacturing officer in the 2021. He then became the CEO of Adani Group’s cement business in 2023. He holds an undergraduate degree in chemical engineering from the Sri Venkateswara University in Tirupati, Andhra Pradesh.

Sanjay Kumar Khajanchi has worked for Ambuja Cements for over 20 years, reaching the position of Head - Finance & Controlling in 2021. He holds a bachelors degree in commerce from St Xavier's College in Kolkata, qualifications from the International Institute for Management Development in Lausanne, Switzerland, as well as various professional financial accreditations.

Manish Mistry has worked with a wide variety of companies for over 15 years including Bell Ceramics, Alembic Group, Cadila Group and GACL before joining Adani Group in 2022. He is a member of the Institute of Company Secretaries of India and holds a degree in commerce and law from the Maharaja Sayajirao University of Baroda in Vadodara, Gujarat.

Ajay Kapur has been the CEO of Adani Group’s cement business since mid-2022. He has worked for over 25 years in the cement sector, originally starting at Ambuja Cements in 1993. He subsequently became the company’s managing director and CEO from 2014 to 2019. He then was the head of the aluminium and power division at Vedanta Group. Kapur holds an undergraduate degree in economics from St Xavier's College, a master of business administration (MBA) degree from the K J Somaiya Institute of Management and has completed the Advanced Management Programme at The Wharton School of the University of Pennsylvania.

India: UltraTech Cement plans to more than double the share of renewable electricity in its energy mix to 60% by the 2026 financial year, which will end on 31 March 2026, from 22% at present. Asian News International has reported that the group plans to reach 85% renewable energy use by 2030. It presently has 691MW-worth of installed renewable power capacity, comprised of 429MW of contracted renewable power plants and 262MW of waste heat recovery (WHR) plants. Other decarbonisation technologies in UltraTech Cement’s operations besides renewable power include its use of compressed natural gas and liquefied natural gas as vehicle fuel.

India: Adani Group has committed to investing US$100bn in the decade to the end of 2033 towards transitioning its operations to net zero CO₂ emissions by 2050. The scope of investments will include the group’s cement business in addition to logistics and power generation. The group has also set a target for five of its subsidiaries, including ACC and Ambuja Cements, to become net zero by 2050 or earlier. Adani Enterprises currently plans to build a 10GW/yr-capacity solar panel plant, a 10GW/yr-capacity wind turbine plant and a 5GW/yr-capacity hydrogen electrolysers plant.

Adani Group said "The roadmap to the net zero transition will require green hydrogen solutions in its last mile. To make green hydrogen adoption feasible, Adani's track record in large-scale renewables and fully integrated manufacturing with end-to-end engineering, procurement and construction capability — all in one single location — uniquely positions it to secure lower costs."

India: Adani Group announced planned investments of US$204m in its cement operations in the state of Uttarakhand. The Business Standard newspaper has reported that the investments are made up of US$36m in an expansion to more than double the capacity of Ambuja Cement’s Roorkee grinding plant to 3Mt/yr and US$168m in the construction of a new 4Mt/yr grinding plant.