Displaying items by tag: Odisha

India: JSW Cement plans to invest around US$277m towards increasing its production capacity and it is considering an initial public offering (IPO) in 2019 or 2020. The cement producer wants to increase the cement production capacity to 2.2Mt/yr in 2018 from 1Mt/yr at its Dolvi grinding plant in Maharashtra, according to the Press Trust of India. A further expansion to 4.5Mt/yr is scheduled for 2019.

"We expect huge demand for cement in the country and plan to expand our cement manufacturing capacity from 12.5Mt/yr to 20Mt/yr by 2020. We are adding 4.5Mt/yr at our Dolvi unit in Maharashtra and 1.2Mt/yr at out Vijaynagar unit in Karnataka, apart from 1.2Mt/yr adding at our Odisha unit,” said JSW Cement’s managing director Parth Jindal. He added that the company would wait for the outcome of the general election in 2019 and create a ‘healthy’ financial profile before launching the IPO. After raising money in the offering the company plans to reach a 30Mt/yr capacity by 2025 and 50Mt/yr in 2030 both through new builds and acquisitions.

India: A worker has been found dead at a 2Mt/yr cement grinding plant that Emami Cement is building at Jajpur in Odisha. A fellow worker was also found injured next to the deceased, according to the New Indian Express newspaper. No cause for the accident has been reported. Both men were working as casual labourers at the site.

India: Emami Cement plans to commission it 2Mt/yr Jaipur grinding plant in Odisha by March 2018. It has spent US$94m on the unit. Once completed the new plant will bring the company’s cement production capacity to 6Mt/yr, according to the Press Trust of India. It operates an integrated plant at Risda in Chhattisgarh and a grinding plant at Panagarh in West Bengal. The company also plans to increase the market share of its Emami Double Bull Cement product by 10% in all the regions of its operations by March 2019.

India: Chettinad Cement has received approval from the Odisha State-level Single Window Clearance Authority (SLSWCA) for an investment proposal to build a 2Mt/yr cement grinding plant at the Kalinga Nagar Industrial Complex in Jajpur district. The project is budgeted at US$36m, according to the Press Trust of India.

India: Odisha’s State Level Single Window Clearance Authority (SLSWCA) has approved a proposal by Ambuja Cements to build a 1.5M/yr cement grinding plant at the Industrial Growth Centre, Jharsuguda. The proposed unit will use an area of 125 acres, according to the Press Trust of India. It is expected to create 300 direct and indirect jobs. Once complete the plant will join the company’s five integrated cement plants and eight grinding plants.

India: ACC has sold its 12.1% in Shiva Cement to JSW Cement for US$5.8m. Following the sale JSW Cement now holds the entire promoter holding in Shiva Cement, according to the Mint newspaper. In January 2017 JSW Cement announced that it was making an open offer to buy out Shiva Cement. Shiva Cement operates a 0.2Mt/yr cement plant in Rourkela, Odisha.

India: Dalmia Bharat Group plans to spend US$293m towards increasing its production capacity in Odisha. The cement producer has joined the 'Make in Odisha Conclave,' according to the Press Trust of India. It has a production capacity of 5.5Mt/yr from two plants in the state. Mahendra Singhi, Group chief executive officer of Dalmia Bharat Group, said that Odisha’s gross domestic product (GDP) is expected to grow by 12% by 2020. He added that the state government's commitment to industrial development is backed by industry-friendly policies that are already showing positive results.

India: Shree Cement has denied that it is in talks to buy a majority stake in Shiva Cement describing media reports as ‘purely speculative.’ Local media had reported that Shree was considering buying Shiva for around US$0.22/share.

Shiva Cement has a 0.2Mt/yr cement plant near Rourkela in Sundergarh district in Odisha with on-going plans to upgrade the site to 1Mt/yr. The company also has captive limestone reserves in the area and produces both Sumangal

India: Emami Group is planning to build a cement production capacity of 15 – 20Mt/yr by 2021. It started operations at its 5.5Mt/yr cement plant in Chattisgarh in July 2016. In addition, two cement grinding plants are set to open in West Bengal and Odisha, according to the Press Trust of India. The West Bengal plant is due to open in January 2017.

"We aim to be among the top few players in the cement industry. Emami Cement plans to have a manufacturing capacity of 15 – 20Mt/yr over the next three to five years," said Aditya Agarwal, director of Emami Group.

Emami Cement has a limestone mine in Andhra Pradesh where it also plans to build a 2Mt/yr plant with an investment of US$225m. It also plans to build a 6Mt/yr plant in Rajasthan for US$524m.

Initially, the company plans to target markets in Chattisgarh, West Bengal, Odisha and eastern Maharashtra's Vidharbha region. It sells cement under the 'Double Bull' brand.

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.