Displaying items by tag: Andhra Pradesh

India: Penna Cement has filed for an initial public offering (IPO) worth US$212m. It plans to offer US$34m-worth of shares for sale and to issue equity shares worth US$177m. United News of India has reported that part of the money raised will fund capital expenditure (capex) investments worth US$58m. The company’s plans consist of a second line at its Krishnapatnam grinding plant in Andhra Pradesh, an upgrade of raw materials and clinker grinding at its integrated Talaricheruvu plant in Andhra Pradesh, and new waste heat recovery (WHR) units at its Talaricherevu plant and its integrated Tandur plant in Telangana. It additionally plans to repay previous loans.

India: The Andhra Pradesh Pollution Control Board (APPCB) has issued Zuari Cements’ Kapada cement plant with a closure order. The order follows an alleged failure to conform to a previous environmental order from the APPCB. The Indian Express newspaper has reported that, pursuant to the order, the board has requested police to cut off the power supply to the integrated cement plant.

India: Germany-based Gebr. Pfeiffer has won a contract to supply a vertical roller mill for grinding coal to Deccan Cement’s Bhavanipuram cement plant in Andhra Pradesh. Gebr. Pfeiffer India will be responsible for processing the order and supervising production and installation at the plant’s 3500t/day kiln line. The mill will be the company’s second from the supplier. It chose an MPS 250 BK mill, which can also grind petcoke or a mixture of coal and petcoke. Commissioning is scheduled for before mid-June 2022.

India: Ramco Cements says that its 16Mt/yr installed production capacity will increase to 20Mt/yr during its 2022 financial year that starts in April 2021 with the completion of a new plant at Kurnool in Andhra Pradesh and a third production line at its Jayanthipuram plant. The original plan to complete the work by the end of March 2021 was delayed by the coronavirus pandemic, according to the Hindu newspaper. The new integrated plant at Kurnool will have a clinker capacity of 2.25Mt/yr and a cement production capacity of 1Mt/yr. The third production line at the Jayanthipuram plant will have a production capacity of 1.5Mt/yr, increasing the plant’s total to 4.5Mt/yr.

The producer also plans to complete Phase 3 of the installation of a waste heat recover (WHR) unit at the Jayanthipuram plant. Phase 1 (9MW) was commissioned in September 2020, Phase 2 (9MW) in February 2021 and Phase 3 (9MW) is scheduled for after the third line is complete. So far the first two stages have reduced the cement plant’s power consumption from a thermal power plant by 15MW. The project has cost around US$30m.

Ramco Cements has spent US$345m out of its planned US$470m capital expenditure in the 2021 financial year, which ends on 31 March 2021.

India: State-owned Visakhapatnam Steel Plant may use available land at its steel plant in Visakhapatnam, Andhra Pradesh to establish a slag cement plant. The Hindu newspaper has reported that the Indian Cabinet Committee on Economic Affairs (CCEA) has decided to privatise the public sector unit. The state government opposes the decision and has proposed a merger with the National Mineral Development Corporation (NMDC) instead. This would integrate Visakhapatnam Steel Plant within the management chain of other resources used in cement production.

India: Ramco Cements’ nine-month profit for the period ending on 31 December 2020 was US$77.9m, up by 23% year-on-year from US$63.3m in the corresponding period of the 2020 financial year. Cement sales volumes dropped by 18% to 67.6Mt from 82.7Mt. Its revenue from sale of products fell by 9% to US$488m from US$535m.

The company reported that it has redeposited US$3.54m for its appeal against cartelisation charges that carrya penalty of US$35.4m. It said, “The company, backed by legal opinion, believes that it has a good case and hence no provision is made.”

The cement producer plans to commission a 1.5Mt/yr clinker line and a 9MW waste heat recovery (WHR) system at Jayanthipuram, Andhra Pradesh and a 2.25Mt/yr clinker line at Kurnool, Andhra Pradesh in the first quarter of its 2021 – 2022 financial year. A 1Mt/yr grinding unit, a 12MW WHR unit and a thermal power plan are expected to be commissioned later in the year.

India: Cement producers in southern India have joined together to form the South Indian Cement Manufacturers’ Association (SICMA). United News of India has reported that the association aims to serve as an intermediary between producers and federal and state governments. In this, it says that it will help to realise Prime Minister Narendra Modi’s vision of ‘affordable housing for all’ and ‘infrastructure for future.’ The India Cements vice-chair and managing director Narayanaswami Srinivasan will head the new organisation, supported by Barathi Cement’s director Ravinder Reddy as vice-president and Penna Cement’s director Krishna Srivastava as secretary.

SICMA alleges that the construction industry has exaggerated the effects of rising cement prices on its costs. In so doing, the association says, it has deprived the public of the housing the government had planned. It added that, with around 30% of India’s limestone reserves situated in Andhra Pradesh, Karnataka and Telangana alone, the South has the potential to become a cement hub for development across India, as well as for export.

India: The board of directors of NCL Industries has approved plans for the establishment of two ready-mix plants at a cost of around US$0.8m. The plants will be located in Hyderabad, Telangana and Visakhapatnam, Andhra Pradesh. Both projects are scheduled for completion in early 2021. The units will be financed by bank loan.

India: Tax authorities have raided 10 offices of Chettinad Cement and its subsidiaries in Telangana and Andhra Pradesh. The Times of India newspaper has reported that the officers are investigating allegations of tax evasion.

India: The Indian Department of Mines and Geology has fined Trishul Cements around US$13.6m for the alleged unlawful extraction of 14,000t of limestone from the Konuppalapadu limestone mine in Andhra Pradesh. The Times of India has reported that the state government terminated its lease of the land in relation to Trishul Cements in February 2020. Investigations unearthed continued mining activity at the site in Anantapur District, along with two other companies’ sites in the Muchakota forest area of the district.