Displaying items by tag: Rajasthan
Deadline extended for sale of Binani Cement
05 January 2018India: The deadline for bidding for Binani Cement has been extended until 15 January 2018 as the cement company takes potential buyers on a tour of its grinding plant in Dubai. The Rajasthan-based cement producer is being sold following bankruptcy proceedings, according to the Daily News & Analysis newspaper. The family-owned company with cement plants in Indian, China and the UAE has attracted a high level of interest from both international and local cement companies.
Supreme Court lifts ban on petcoke and furnace oil by cement industry in northern states of India
14 December 2017India: The Supreme Court has lifted a ban on petcoke and furnace oil to the cement and power industries in Delhi, Haryana, Rajasthan and Uttar Pradesh. The court also directed the Ministry of Environment and Forest (MoEF) to set regulations for the sale of petcoke and fix emission standards for thermal power plants, according to the Indo-Asian News Service agency. Representatives of the cement industry have welcomed the ruling. The Central Pollution Control Board and the MEF issued the ban following a directive from the Supreme Court in late October 2017 prohibiting industries in the three neighbouring states of Delhi from using the polluting fuels.
UltraTech Cement to build US$287m plant in Rajasthan
11 December 2017India: UltraTech Cement plans to build a US$287m plant at Pali in Rajasthan. The 3.5Mt/yr unit is expected to commence operation by June 2020. The cement producer said that the plant is being set up in one of the fastest growing markets in the country and highest cement consuming states in the North Zone of the country. It added that the plant will serve markets in western Rajasthan where the company does not have a ‘significant’ presence.
Dalmia Bharat to bid for Binani Cement
06 December 2017India: Dalmia Bharat Cement has made an agreement with the Piramal Bain Resurgence Fund to jointly bid for Binani Cement. The deal will see the two companies make an offer for Binani’s two plant in Rajasthan, according to the Economic Times newspaper. Binani Cement has debts of US$530m and the potential buyers are aiming to pay around US$930m. Binani Cement became insolvent following a US$110m royalty payment to state government for its limestone quarries. Other Indian cement producers, including Ultratech Cement, Shree Cement, Nirma, JSW cement and My Home Industries, have expressed interest in the cement producer.
Indian ministry considers exemption for cement plants from petcoke and furnace oil ban
05 December 2017India: The Ministry of Environment and Forest (MEF) is considering exempting cement plants and power companies from a ban on using petcoke and furnace oil for industrial use in Haryana, Rajasthan and Uttar Pradesh. Additional solicitor general A Nadkarni informed the Supreme Court that the use of petcoke in the cement industry was ‘minuscule,’ for non-fuel purposes and that it is used for de-sulphuring, according to the Hindustan Times. However, the exemption, if granted, will only be allowed for one year to allow cement companies to switch to alternative fuels.
The Central Pollution Control Board and the MEF issued the ban following a directive from the Supreme Court in late October 2017 prohibiting industries in the three neighbouring states of Delhi from using the polluting fuels. Use of petcoke and furnace oil is already banned in the capital region. The ban was imposed following high pollution levels in Delhi.
Birla Corporation net profit drops sharply in first half
13 November 2017India: Birla Corporation’s net profit has fallen by 72% year-on-year to US$6.8m in the first half of its financial year to the end of September 2017 from US$24.4m in the same period in 2016. However, its sales revenue grew steeply by 37% to US$444m from US$325m. Sales volumes grew by 39% to 5.9Mt from 4.3Mt.
The cement producer said that despite ‘challenging’ markets it had increased its sales volumes and benefitted from synergies following its acquisition of Reliance Cement in mid-2016. It added that demand and prices were ‘seriously’ impacted in central India by a prolonged shortage of sand and aggregates, especially in Uttar Pradesh, which constitutes around 35% of the company’s sales. Prices were also down in the northern states of Rajasthan, Haryana and the National Capital Region due to poor demand.
Ambuja Cement wins Harima Peethasar limestone block after delay
03 October 2017India: Ambuja Cement has won an auction for Nagaur's Harima Peethasar limestone block in Rajasthan following a procedural objection. JSW Group claimed that it was unable to place a counter bid in the online auction due to problems with the computer servers of Metals and Minerals Trading Corporation (MMTC), the state company running the sale, according to the DNA newspaper. After examination the claim was dismissed.
JK Cement to invest US$234m on expansion drive
18 September 2017India: JK Cement plans to invest up US$234m over the next 3- 4 years on an expansion project to increase its cement production capacity by over 30% to 14Mt/yr. Rajnish Kapur, the head of the company’s cement business, told the Press Trust of India that the cement producer is considering expanding existing plants and building new ones due to anticipated government infrastructure spending and a good monsoon. He said that it is in the process of evaluating expansion opportunities at its Mangrol plant in Rajasthan. It is also looking to build a new plant in Panna, Madhya Pradesh. It intends to finance the expansion through a mixture of internal funds and via loans.
JK Cement upgrades plants in Rajasthan
16 May 2017India: JK Cement has increased its clinker production capacity at its plants in Rajasthan by 3.3Mt/yr following upgrades in cooler modification, de-bottlenecking and other upgrades. The investment cost US$7.8m. Following the upgrade the cement producer had a production capacity of 5.4Mt/yr in the state.
Emami Cement wins limestone-mining lease in Rajasthan
29 September 2016India: Emami Cement has won a limestone-mining lease in Rajasthan for a cost of US$4.5/t. The lease is for the Nagapur 3B1b Deh block that has an estimated reserve of 168Mt. It is the first non-coal mining lease to be sold via auction in the state, according to the Financial Express. Emami Cement will also have to pay royalties and make contributions to the district mineral foundation and national mineral exploration trust once it starts operation. Mining is expected to start in about 18 months subject to land acquisition, project planning and environmental clearance.