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News Reliance Cement

Displaying items by tag: Reliance Cement

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Arvind Pathak appointed as managing director of Birla Corporation

03 March 2021

India: Birla Corporation has appointed Arvind Pathak as its managing director and chief executive director (CEO). He will succeed Pracheta Majumdar from 31 March 2021.
Pathak holds 36 years of experience in the cement industry. He has held CEO or equivalent positions for over 14 years in various large organisations which include ACC, Dangote Cement, Adani and Reliance Group. He holds a degree in Electrical Engineering from Indian Institute of Technology (Banaras Hindu University), Varanasi and a postgraduate degree in Industrial Engineering and Management. He has also been trained in a number of international management institutions.

Published in People
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Conservationists oppose Reliance Cement’s new Mukutban cement plant quarry plans

24 September 2020

India: A public hearing over Birla Corporation subsidiary Reliance Cement’s planned 3.9Mt/yr Mukutban cement plant in Yavatmal district, Maharashtra has raised objections against the company’s quarry plans. The Times of India newspaper has reported that the plant is due to source its limestone from a 7.6km2 quarry in Korpana, Chandrapur district. Critics say that the company has failed to complete a wildlife management plan, and that the site of the mine lies on a 120km wildlife corridor between the Tipeshwar Wildlife Sanctuary and the Kawal Wildlife Sanctuary in neighbouring Telangana. Reliance Cement said that an environmental report had shown the presence of no scheduled species within 10km of the proposed site.

Maharashtra state wildlife board member and honorary wildlife warden Bandu Dhore said, “Although there is no forest area under the proposed mining site, it acts as a regular corridor as there is forest on either side within 1km. We are pursuing the matter with the forest department and would press it with higher officials to ensure that the precious corridor remains undisturbed. Protection of corridors is a must for conservation of wildlife and hence we are going to raise the demand of re-survey of the project site from the wildlife point of view.”

Published in Global Cement News
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Birla Corporation confirms plans to build new cement plant at Mukutban

06 August 2018

India: The board of Birla Corporation has confirmed plans to build a new 3.9Mt/yr cement plant at Mukutban in Maharashtra. The unit will also include a 40MW captive power plant and a 10.6MW waste heat recovery system. The project has an investment of US$356m and it is intended to be completed by early 2022.

The cement producer says it has acquired land, mineral concessions and environmental clearance for the plant. It added that the proposed site has good railway and road links. The project is also eligible for an ‘attractive fiscal incentive’ from the state government of Maharashtra.

Birla Corporation operates a grinding plant at Butibori in Maharashtra through its Reliance Cement subsidiary.

Published in Global Cement News
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Birla Corporation net profit drops sharply in first half

13 November 2017

India: 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.

Published in Global Cement News
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Nepalese standards agency bans cement products

14 September 2016

Nepal: The Nepal Bureau of Standards and Metrology (NBSM) has temporarily banned several brands of cement following tests in which they failed to reach minimum standards set by the government. The bureau has required cement producers to recall the affected brands as ‘soon as possible,’ according to the República newspaper.

Ordinary Portland Cement (OPC) and Pozzolanic Portland Cement (PPC) Super Advance and Infratech cement produced by Shree Araniko Cement, Reliance Super Shakti and Reliance Cement produced by Reliance Cement and PPC Kalash Gold Cement produced by Shree Cement have been banned for failing to meet compressive strength level standards. In addition the PPC brand of Bajra Shakti, Tri Shakti Supper and JBC cement produced by Jaya Bageshwori Cements, PPC brand of Yeti, Rock Strong and Gaurav Cement produced by Jay Mangalmaya Cements have been banned for exceeded the 28% insoluble residue level set by the government.

Published in Global Cement News
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Reliance Infrastructure completes sale of cement business to Birla Corporation

23 August 2016

India: Reliance Infrastructure has completed the sale of its 100% shareholding in Reliance Cement to Birla Corporation, part of MP Birla Group. The US$715m deal, valued at US$140/t of cement production capacity, was announced in February 2016. The transaction has now completed following the transfer of shares and receipt of sale consideration. Proceeds of the sale will be used by Reliance Infrastructure to pay off its debts.

Published in Global Cement News
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Indian cement industry now on sale!

13 January 2016

Last week we promised reasons to be cheerful for the cement industry. We only have one to offer this week but it's a good one. At present three Indian cement companies are on sale: Lafarge India, Reliance Cements and Jaiprakash Associates. If these sales complete then it represents an opportunity for the Indian cement industry to reorganise itself and stride forward when growth recovers.

Lafarge India upped its sales proposal to the Competition Commission of India (CCI) on 6 January 2016 to sell its entire 11Mt/yr portfolio. Originally as part of the LafargeHolcim merger agreements the CCI asked Lafarge to sell 5.2Mt/yr of production capacity in Chhattisgarh and Jharkhand in eastern India. However the deal was reliant on the original buyer, Birla Corporation, securing limestone mining rights. Birla failed to do so. Now Lafarge India has decided to sell everything instead. Naturally, following its Euro8bn spending spree in 2015 CRH has been linked to the sale by Indian media.

Then following press speculation Reliance Infrastructure confirmed to the Bombay Stock Exchange on 11 January 2016 that it was at an 'advanced stage of discussions with potential buyers for divesting the cement business of the company.' Reliance's cement arm, Reliance Cement, holds three cement plants in Maihar in Madhya Pradesh, Kundanganj in Uttar Pradesh and Butibori in Maharashtra with a total production capacity of 5.8Mt/yr. In addition to this, the company is also developing a 5Mt/yr cement plant at Wani in Maharashtra. The Reliance sale has been reported upon since early 2015. The difference this time is that Reliance responded to local press reports that it was about to sell to Birla Corporation or a couple of other private equity firms.

Finally, the third sale concerns Jaiprakash Associates' on-going attempts to sell its remaining cement assets to service its debts. Jaiprakash Associates cement subsidiary, Jaypee Cement, holds eight plants in India with a cement production capacity of 11Mt/yr. In addition it holds six cement grinding plants with a capacity of 10.7Mt/yr. Despite reported attempts to sell the entire division in one Jaypee has actually ended up selling its cement assets in a piecemeal fashion one or two at a time. The most recent sale being announced this week is to sell its Bhilai Jaypee Cement to Shree Cement. This follows other sales to HeidelbergCement and UltraTech in 2015.

None of these sales are new exactly but the combined production capacity of these plants comes to just under 28Mt/yr. This represents 9% of India's total national cement production capacity of 310Mt/yr. Any player somehow able to weasel their way into striking a deal for all of these plants would immediately become one of the country's biggest producers.

It would definitely be a case of buyer beware though. Credit agency ICRA recently reported that it expects that cement demand growth will be a 'modest' 4% in the 2015 - 2016 financial year before picking up in the following year. This follows poor growth in cement demand in the first half of 2015 and even declines in March and April 2015. ICRA also expected the country capacity utilisation to drop to 70% in the 2016 financial year, down from 77% in the 2012 financial year. That 7% drop in the utilisation is awfully close to the 9% of Indian national production capacity that the cement assets currently on sale from Lafarge India, Reliance Cement and Jaypee Cement. Unsurprisingly, the buyers of Indian cement assets have been picking and choosing their plants one-by-one so far.

Published in Analysis
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Reliance Infrastructure to sell cement business to cut debt

08 October 2015

India: Reliance Infrastructure plans to sell its cement business as part of plans to cut debt through the sale of non-core assets.

As many as 10 global companies have been sounded for a 100% stake of Reliance Cement, a wholly-owned subsidiary of Reliance Infrastructure. These include CRH, Cemex, HeidelbergCement, GE, Blackstone, Carlyle and KKR. Local companies JK Cement and Prism Cement may also be interested. Reliance Group has appointed Morgan Stanley as banker to scout for buyers for Reliance Cement.

The sale of the cement business is aimed at reducing debt by selling non-core assets. Reliance Infra's debt stood at around US$3.86bn on 31 March 2015. Reliance believes that the sale will help reduce its debt by 20 – 25%. It is looking at a valuation of US$769 – 922m for Reliance Cement, which has a cement production capacity of 5.6Mt/yr.

Reliance Cement started operations in 2007 and has plants in Maihar in Madhya Pradesh (2.8Mt/yr), Kundanganj in Uttar Pradesh (2.2Mt/yr) and Butibori in Maharashtra (500,000t/yr). It is also developing a 5Mt/yr greenfield plant at Wani in Maharashtra.

Published in Global Cement News
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Reliance Cement sells online

04 September 2015

India: Reliance Cement Company has announced that it will start to sell cement online. Atul Desai, Chief Marketing Officer of the company, said, "With this move, Reliance Cement has become one of the first e-commerce cement companies in India. In line with our consistent efforts to provide superior product and services to our customers, e-retailing is the latest next-generation customer friendly initiative."

The 'e-retailing' facility is available for a minimum order of 25 bags that will be delivered to the customer within 48 hours. Desai said that Reliance Cement has emerged as a premium brand in major cities of Uttar Pradesh, Madhya Pradesh, Maharashtra, Bihar, Jharkhand and West Bengal. Initially, the 'e-retailing' facility will be available in Uttar Pradesh, Madhya Pradesh and Maharashtra.

Published in Global Cement News
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Reliance Infrastructure might sell Reliance Cement

13 March 2015

India: Reliance Infrastructure, part of Anil Ambani-led Reliance Group, has decided to sell its cement business, Reliance Cement, to fund the acquisition of Pipavav Defence and Offshore Engineering, which it is acquiring for US$331m.

Reliance Cement is in talks with HeidelbergCement and Italcementi and has offered a 50% stake in the company. The prospective joint venture partner will also fund the company's cement capacity expansion, which is estimated to rise to 15Mt/yr by 2018. Details of the valuation of the possible deal are unknown. HeidelbergCement has operations in Damoh in Madhya Pradesh, Jhansi in Uttar Pradesh and Ammasandra in Karnataka. Italcementi is active in India via Zuari Cement.

Reliance Cement has a 5Mt/yr capacity cement plant in Maihar, Madhya Pradesh. As part of its expansion plan, it is setting up another 5Mt/yr plant in Maharashtra, which is set to be operational by 2017. It is also planning another 5Mt/yr of capacity to be operational by 2018, via a second line in Madhya Pradesh, a new plant in Karnataka or a new plant in Rajasthan.

Published in Global Cement News
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