Displaying items by tag: Gujarat

India: Adani Group has reportedly relocated 'significant roles' in ACC and Ambuja Cements to Ahmedabad, Gujarat. ACC and Ambuja Cements' headquarters are situated in Mumbai, Maharashtra, and employ 6000 and 4700 people respectively. The Business Standard newspaper has reported that many people in leadership positions now based in Ahmedabad continue to run teams in Mumbai.

India: Gujarat Sidhee Cement has temporarily shut down the kiln of its Sidheegram cement plant in Gujarat's Junagadh District for maintenance work. Reuters has reported that the closure will last from 19 December 2022 until 27 December 2022 at the earliest, during which time cement grinding and despatch operations will run as normal.

India: Sanghi Industries has borrowed US$60.6m from Kotak Investment Advisors. The cement producer secured the funds in the form of non-convertible debentures (NCDs).

Sanghi Industries produces its Sanghi Cement brand cement in Gujarat.

India: Gujarat Sidhee Cement again closed its Sidheegram cement plant on 11 September 2022. The producer says that the temporary suspension of production will last until 1 October 2022.

India: Adani Cement Industries has ordered a MVR 3750 C-4 type vertical roller mill from Germany-based Gebr. Pfeiffer for a new 165t/hr cement grinding plant it plans to build at Dahej in Gujarat. The order also includes an integrated SLS 4000 VC type classifier and a drive with a rated power of 3090kW. The subsidiary of Adani Group will produce fly ash-pozzolan mixed cement at the site.

Gebr. Pfeiffer’s local subsidiary, Gebr. Pfeiffer (India), will act as the general contractor for the project and will provide plant engineering. The commissioning of the new mill is planned for the period before the rainy season in the summer of 2023.

India: Gujarat Sidhee Cement has stopped production at its Sidheegram cement plant in Gujarat for at least one week. The producer will use the suspension for repair and maintenance of the plant.

India: Gujarat Sidhee Cement has stopped its kiln for a temporary period of 15 – 20 days due to high clinker inventory levels. Cement grinding and despatch will continue unabated. The cement producer operates an integrated plant at Sidheegram in Gujarat.

India: Shree Digvijay Cement plans to more than double the capacity of its Digvijaygram cement plant in Gujarat’s Jamnagar District to 3Mt/yr from 1.2Mt/yr. Projects Today News has reported that the project will begin by mid-2023, and will also include the establishment of a waste heat recovery (WHR) plant.

India: UltraTech Cement has taken legal advice for its planned bid for Holcim's Indian business and says that it will volunteer to divest 15Mt/yr-worth of cement assets in order to accelerate the Competition Commission of India (CCI) approval process which would follow on from the acceptance of any offer. The Economic Times newspaper has reported that UltraTech Cement has filed five long form merger notifications for acquisitions of this type since 2013. These included its purchases of Binani Cement and Century Cement, and of Jaypee Group's Gujarati cement assets.

The Financial Express newspaper has reported that fellow contender Adani Group has offered 'more than' US$10bn for the assets, while JSW Group plans to offer US$7bn. BusinessLine Online News has reported that a fourth company, steel producer ArcelorMittal, has also held initial talks with Holcim over the assets.

In considering possible competition issues arising under any future deal, the CCI will factor in planned and upcoming cement capacity. In Gujarat, where Holcim India subsidiaries ACC and Ambuja Cements operate 6.8Mt/yr-worth of capacity, Adani Group plans to build a new 10Mt/yr cement plant at Lakhpat.

India: Police in Mumbai, Maharashtra, have opened a case against a Gujarat-based cement producer on charges of cheating, forgery and criminal conspiracy. The Times of India newspaper has reported that the accused company borrowed US$27m in 2017 and early 2018, purportedly for the purchase of four clinker carrier ships and the construction of jetties at two sites in Gujarat. However, the producer had mortgaged all four ships, pledging over 20% of its shares. From the funds, it reportedly paid itself for the construction of the jetties, and used US$17.35 to repay outstanding bank loans.