Displaying items by tag: India

India: The state government of Karnataka has approved the allotment of 6 hectares of land to Everest Industries. Reuters News has reported that the company plans to build a cement boards plant. The plant will produce either conventional cement boards or the company's Rapicon reinforced aerated concrete and gypsum wallboard sandwich panels.

India: Imerys has inaugurated a 30,000t/yr calcium aluminate binder plant at Atchatapuram in Andhra Pradesh. The Hindu newspaper has reported that the plant will supply refractory production and construction uses. Imerys plans to expand the plant's capacity to 50,000t/yr by 2030, in order to serve rising demand deriving from India's growing cement sector. This will make it Imerys' largest plant in the country.

India: JSW Cement has announced a planned US$389m investment in the construction of a new integrated cement plant in Madhya Pradesh and a grinding plant in Uttar Pradesh. Together, the plants will have a cement capacity of 5Mt/yr.

The Economic Times newspaper has reported that JSW Cement's acquisition of Springway Mining has given it access to 106Mt of new limestone reserves, with a mining lease until 2065.

India: Vicat Cement subsidiary Bharathi Cement has inaugurated its 750,000t/yr Coimbatore cement terminal in Tamil Nadu. The Deccan Chronicle newspaper has reported that the terminal will serve Tamil Nadu and Kerala. The facility has dedicated container wagons and a 24-hour loading facility with end-to-end logistical automation.

Vicat India chief executive officer Anoop Kumar Saxena said "With its rapid infrastructure development and urbanisation, India proves to be a key market for our business. By investing in the new terminal we align with our commitment towards India's progress and growth. The Coimbatore terminal is Vicat India's second terminal after the Mumbai terminal, which was set up in 2018.

France: Vicat has revised its full-year 2022 earnings forecast. The group now expects to record a drop in its earnings before interest, taxation, depreciation and amortisation (EBITDA). In France and Switzerland, rapidly rising energy costs have outstripped the producer's sales growth so far in 2022, while, in the US, its upgraded Ragland, Alabama, cement plant only entered production following a 'very gradual start-up' in mid-late 2022. Vicat also carried out debottlenecking work on its Kalburgi, India, cement plant during the year to date.

Vicat said that all other markets in which it operates are developing in line with the expectations detailed at the time of the publication of its first-half 2022 results in August 2022.

India: India Cements has agreed to sell Springway Mining to JSW Cement for US$57.9m. Springway Mining is currently building an integrated cement plant in Damoh, Madhya Pradesh, with dedicated limestone reserves in nearby Panna.

India Cements has received US$45.4m-worth of its payment for the business, and expect to receive the outstanding US$12.5m by 31 December 2022.

India: Four UltraTech Cement cement products have received Environmental Product Declaration (EPD) certification. UltraTech Cement's ordinary Portland cement (OPC), Portland pozzolana cement (PPC), Portland slag cement (PSC) and Portland composite cement (PCC) all successfully underwent lifecycle assessment studies in line with EPD requirements.

The Aditya Birla subsidiary said that 70% of its cement sales consist of blended cement. It offers over 70 different GreenPro certified products across its range.

India: Finland-based Betolar has launched its first concrete products manufactured using Geoprime on the Indian market. Geoprime is an additive designed for use in cement-free concrete production with ash and ground granulated blast furnace slag (GGBFS). The new concrete product range consists of precast blocks, paving slabs and tiles, and is currently on display at World of Concrete India in Mumbai, Maharashtra.

Betolar's India managing director Abhishek Bhattacharya said "We are happy to introduce our first products to our customers for the Indian markets. We have now moved from laboratory tests into the production phase, and can show concretely how well this solution works. It is great to hear the feedback from the concrete industry in the region to our sustainable solution. Decarbonisation of the concrete industry is a very current and important topic."

India: Adani Group and Jaiprakash Associates are reportedly in 'advanced talks' over the latter becoming Adani Group's latest cement sector acquisition at a price of US$606m. Reuters News has reported that Jaiprakash Associates' board of directors approved the sale of the company on 10 October 2022. Adani Group plans to buy the business via one of its newly acquired cement subsidiaries.

Adani Group is also planning a US$7.9bn investment package in a Rajasthan cement plant expansion, solar power plant project and airport upgrade. The solar power plant has a planned capacity of 10GW. Adani Group owns the 1.8Mt/yr Rabriyawas cement plant and the 5Mt/yr Lakheri cement plant in Rajasthan. The group plans to raise US$10bn to fund its growth plans. Potential investors in 'early talks' with the group include Singaporean sovereign wealth fund Temasek Holdings.

Adani Group completed its acquisition of ACC and Ambuja Cements for US$10.5bn in September 2022.

India: JSW Cement is 'closing in' on an acquisition of some of India Cements' assets in Madhya Pradesh and Rajasthan. The Business Standard newspaper has reported that JSW Cement beat an offer by UltraTech Cement for the Rajasthan assets.

India Cements began construction of a new 3Mt/yr cement plant with a dedicated limestone mine in Madhya Pradesh in 2022. In May 2022, it announced that it was contemplating a land sale in order to reduce its debt. India Cements ended the 2022 financial year with debt of US$369m, up by 1.4% year-on-year from US$364m at the close of the 2021 financial year.