11 August 2016
Japan: Taiheiyo Cement’s revenue has fallen by 16% year-on-year to US$1.73bn in its first fiscal quarter which ended on 30 June 2016, from US$2.07bn in the same period of 2015. Its net profit more than doubled to US$151m from US$64.7m.
India: Birla Corporation’s sales revenue has risen by 16% year-on-year to US$134m in the quarter that ended on 30 June 2016 from US$115m in the same period of 2015. Its net profit rose to US$14.1m from US$3.73m. Its cement sales revenue rose by 31% to US$125m from US$107m. The company’s cement sales volumes rose by 11% to 2.17Mt from 1.96Mt.
Shri Harsh V Lodha, chairman of the company, said that operating costs at its Chanderia and Satna cement plants could be reduced following efficiency drives, improving fuel mixes and lower fuel prices. Packaging costs have fallen following a reduction in the cost of polypropylene granules. The use of petcoke at the Chanderia and Satna plants has also helped to reduce costs.
India: Bokaro district officials in the state of Jharkhand will support the construction of a 1.5Mt/yr cement plant by UltraTech Cement in the Bokaro Industrial Area Development Authority (BIADA). UltraTech will be the second cement producer to build a plant in the BIADA region following Dalmia Cement. Local officials have met UltraTech staff to discuss infrastructure connections, the availability of slag and other raw materials and environmental clearance, according to the Times of India.
India: The state government of Odisha has asked the Steel Authority of India to build infrastructure, including a cement plant, in the Sundargarh district. The admission came about at a meeting between Steel Authority chairman P K Singh and chief minister Naveen Patnaik at the state secretariat. Other projects the state would like the steel producer to build include a hospital, a medical college and an education centre, according to the Times of India.
India: The Competition Commission of India has approved the proposed acquisition by UltraTech Cement of selected cement assets from Jaiprakash Associates and its associated company Jaypee Cement. The deal concerns 21.2Mt/yr of cement production capacity at a cost of US$2.47bn. The transaction is expected to complete in early to mid 2017.