Displaying items by tag: India

India: A reduction in government spending and delays to the release of state funds ahead of India’s general election led to a slowdown in Indian cement demand growth in April and May 2019. Growth in cement consumption is expected to fall to a seven quarter low in the quarter to 30 June 2019.

“Pan-India cement demand will post muted 3-5% growth in the current quarter (the first quarter of the 2020 Fiscal Year), with states in the East (Bihar, Odisha) and South (Andhra Pradesh and Telangana and Tamil Nadu) moving at a snail's pace of 2-4%," said Hetal Gandhi, director at Crisil Research. However, Crisil expects demand to pick up in the second half of the 2020 fiscal year, with growth 6.0-7.5% for the 12 months to 31 March 2020 as a whole.

India: Ramco Cements has launched a new premium blended cement, Ramco Supercrete. The company says that Ramco Supercrete is packed in Biaxially Oriented Polypropylene bags (BOPP) bags to ensure no spillage and thus ensure a cleaner environment. Ramco Supercrete will be targeted at the ‘premium’ section of the cement market.

Ramco Cement also reports that it has invested US$500m in various expansions that are underway. The company's new capacity in West Bengal is already on stream. The company's Odisha plant is expected to be commissioned by October 2019, its Vizag plant expansion will be completed by December 2019, its Jayanthipuram expansion by July 2020 and work on its Kurnool plant will be finished by March 2021.

India: The Builders Association of India (BAI) has called for the creation of a regulatory body to control the price of cement. Sachin Chandra, the president of BAI, called on the newly elected Indian government to set up the organisation, according to the Hindu newspaper. He alleged that the Monopolies and Restrictive Trade Practices (MRTP), the Competition Commission of India and the National Company Law Appellate Tribunal had ‘repeatedly’ found evidence of anti-competitive behaviour in the cement industry.

India: India Cement net profit fell to US$2.74m in the year to 31 March 2019 from US$9.56m in the same period in 2018. It blamed competition in the south of the country and low prices in the first nine months of the year. Its power and fuel costs also rose during the period. Despite this its income grew by 6% year-on-year to US$836m from US$785m. Its cement sales volumes rose by 11% to 12.4Mt from 11.2Mt.

Bhutan: Dungsam Cement has reduced its loss in 2018 by increasing its production volumes. It reported a loss of US$0.43m in 2018 from US$10.3m in 2017, according to the Bhutan Broadcasting Service. Its cement production volume more than tripled to 0.63Mt in 2018 from 0.2Mt in 2014.

The plant at Nganglam has commissioned in 2014 and it has reportedly been making a loss since then due to a loan. The cement producer has suffered from a low production capacity utilisation rate, as the plant has a production capacity of 1.3Mt/yr and it has had problems exporting cement to India. However, sales to hydroelectric projects in the country have been increasing.

India: JSW Cement plans to double its cement production capacity in the eastern region to 8Mt/yr by 2023 – 24. It currently operates a 2.4Mt/yr plant at Salboni in West Bengal and a 1.5Mt/yr plant at Odhisa, according to the Press Trust of India. It intends to meet the target with a combination of upgrades and new units. It also plans to commission a new captive power plant at Salboni by July 2019.

India: Haver Ibau India has been renamed as Haver & Boecker India since April 2019. The subsidiary of Germany’s Haver & Boecker and its subsidiary Ibau started in 2008. The change in name reflects a broader industry base for the Indian subsidiary to continue to include the cement industry as well as customers from building materials, chemicals and food.

India: Shree Cement’s revenue rose by 24% year-on-year to US$1.80bn in the year to 31 March 2019 from US$1.46bn a year earlier. Its profit fell by 27% to US$146m from US$199m. Its power and fuel costs increased by 56% to US$444m from US$284m.

India: JK Cement’s income rose by 4% year-on-year to US$767m in the year to 31 March 2019 from US$740m in the same period in 2018. Its profit fell by 8% to US$37.9m from US$41m, mainly due to tax expenses.

India: Accusations of violence by local police against activists protesting against a limestone mining lease granted to UltraTech Cement in Gujarat have been referred to the Criminal Investigation Department (CID). Police from Bhavnagar allegedly attacked protestors with batons and used tear without prior provocation during a march in early January 2019, according to the DNA India newspaper. The protestors were complaining about a mining lease for a quarry in the Talaja district.