Displaying items by tag: India

Pakistan: Pakistan has recorded year-on-year production growth of 34%, to 4.49Mt in February 2020 from 3.35Mt in February 2019. Consumption grew by 31% to 3.74Mt from 2.84Mt in February 2019. Exports throughout the month were 753,000t, up by 48% from 508,000t. Export growth was bolstered by a weak Pakistani rupee and was stronger in southern Pakistan than in northern Pakistan, with the latter feeling the effects of lowered Afghan demand and zero exports to India.

India: Production capacity utilisation in the cement industry is expected to remain below 70% in the 2020 – 2021 financial year due to new plant projects in the next two years. Credit ratings agencies ICRA, India Ratings and Crisil all forecast relatively low demand for cement compared to a decade-high of 13% in the 2019 – 2020 period, according to the Press Trust of India. Cement production rose by 0.7% year-on-year in the first nine months of 2019 – 2020 period. However, production growth has hastened since then. The ratings agencies offer different outlooks on anticipated profits look forward.

India: A worker has been killed after becoming trapped in a crusher at the Bhavya Cement plant in Andhra Pradesh. The incident took place when the 28-year old worker was cleaning the belt of the crusher, according to the New Indian Express newspaper. The local authorities have inspected the plant

India: ACC Limited has announced that it will open a 2.5Mt/yr integrated cement plant with ‘state-of-the-art pollution control technology,’ along with a 25MW coal-fired power plant that will serve the plant in addition to an existing 15MW coal-fired power plant on the site in Chandrapur, Maharashtra. The opening in March 2020 will follow the expiry of a period of respite for continued operation of ACC’s 0.9Mt/yr integrated Cement Nagar plant on the same site.

The Times of India has reported that the plant, the company’s oldest, first shut on 30 November 2010 due to repeat violation of pollution standards, and was permitted to reopen in January 2011 up until 28 February 2020, subject to its adherence to strict conditions imposed by the Maharashtra Pollution Control Board (PCB). The company says that it is investigating the use of cladding in the old power plant to bring noise pollution down to 55dB.

India: The state government of Odisha has leased an area of limestone-bearing land that includes the Asura Vihara Gumphas, a first century BC Jain religious centre with significance in local mythology. The Blink newspaper reported that the site, consisting of three caves, is ‘covered by thick vegetation’ and in need of ‘proper conservation and preservation.’ Indian National Trust for Art and Cultural Heritage (INTACH) Odisha state curator Anil Tripathy said, ‘the caves should be retrieved from the company and the allotment of the site cancelled.’ Toshali Cements is reportedly carrying out limestone surveys on an area, including the caves.

INTACH is in the process of conducting a comprehensive survey of the Mahandi Valley, in which the land lies, and has identified over 1000 monuments of ‘tangible heritage.’

India: Bimlendra Jha, Managing Director and CEO of Ambuja Cement, a member of LafargeHolcim, has left the company to pursue other interests. The company has appointed Neeraj Akhoury as MD and CEO with effect from 21 February 2020. His appointment is subject to the approval of the shareholders.

Meanwhile, LafargeHolcim’s other Indian subsidiary, ACC, which is in the process of merging with Ambuja, has promoted its chief commercial officer Sridhar Balakrishnan to the position of MD and CEO.

India: Lafarge Holcim-owned Ambuja Cement’s consolidated net profit almost halved to US$100.4m during the three months to 31 December 2019, from US$191.4m in the three months to 31 December 2018. The 2018 result was boosted by a one off benefit of US$121.5m, meaning that underlying operating profit has improved year-on-year. Ambuja’s revenue from operations was up by 6% to US$992m from US$936m.

India: Deccan Cements has firmed up its plan to expand its cement plant in Mahankaligudem, Nalgonda District, Telangana. The plant will be expanded from 1.8Mt/yr via the installation of a third line at an investment cost of US$85m.

The project will also increase the capacity of the plant’s waste heat recovery power plant from 18MW to 33MW. The project will generate employment opportunities for 170 new staff.

The project is expected to commence by September 2020, with completion scheduled for mid 2021.

India: JSW Cement is planning to expand the cement capacity of its plant in Bilakalagudur, Kurnool District, Andhra Pradesh from 4.8Mt/yr to 6.0Mt/yr, at a cost of approximately US$59m. The project will involve expansion of clinker capacity from 2.5Mt/yr to 3.4Mt/yr and the construction of an 18MW captive coal-fired power plant. The work on the project is expected to commence by September 2020.

India: Shree Cement posted a 2.9% increase in its standalone net profit to US$43.4m in the quarter that ended on 31 December 2019, from US$42.2m a year earlier. Its revenue rose to US$399m from US$389m. The company reported that its cement sales rose by 6% to 6.0Mt for the quarter, from 5.6Mt in the corresponding quarter of the previous year.