Displaying items by tag: Shree Cement

India: Shree Cement’s income has risen by 20% year-on-year to US$1bn for the first nine months to 31 December 2016 from US$834m in the same period in 2015. Its net profit nearly doubled to US$152m from US$86m. The cement producer also reported that its plans to build a 2.8Mt/yr cement plant at Kodla in Karnataka have received principal approval from its board. The plant will have a cement grinding capacity of 3Mt/yr. The project has been budgeted at US$265m and it is planned to be completed by the end of 2018.

India: The Competition Commission of India (CCI) has found seven cement companies guilty of bid rigging and cartelisation and imposed a total fine of nearly US$30m on them. The accused companies are Shree Cement, UltraTech Cement, Jaiprakash Associates, JK Cement, Ambuja Cements, ACC and JK Lakshmi Cement, according to the Times of India. The fines are based on 0.3% of each company’s average turnover for three financial years. Each company has also been ordered to cease and desist such behaviour.

The ruling relates to a tender floated by a Haryana state procurement agency in 2012 that the CCI started investigating in 2014. Evidence cited in the CCI’s order includes text messages and phone calls made between officials of the companies.

UltraTech Cement and Shree Cement have issued statements saying that they will appeal against the fine.

India: Petron Engineering Construction has received a letter of intent to build silos and other miscellaneous work at Shree Cement’s cement grinding plant near Cuttack in Orissa. The contract is valued at just under US$5m, according to Accord Fintech. In September 2016 Petron received letter of intent from Shree Cement for civil work at cement plants in Aurangabad, Bihar and Gulbarga, Karnataka with a contract value of just under US$7.5m.

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

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.

India: Shree Cement has awarded KHD with new projects for three more kiln lines, each with a capacity of 6000t/day.

The first project is for line two at Shree’s Raipur plant. The second new line will be built in Karnataka using a three-string preheater with the following equipment from KHD: three-string, six-stage preheater, PRZ 9575; three-pier rotary kiln Ø 5.4/5.0m x 75m long; and a Pyrojet burner; Pyrostep clinker cooler, PSC 3-154.16T. The project commencement date was 2 September 2016. The third project, at a location to be announced, will also be built using the equipment mentioned above.

Shree Cement has implemented 11 KHD high-efficiency kiln lines and many grinding stations, including 10 KHD roller presses.

India: Shree Cement has ordered 10 mills from Gebr. Pfeiffer. This deal continues the cement producer’s expansion strategy across India through integrated cement and grinding plants.

Gebr. Pfeiffer will supply MVR 6000 R-6 raw mills with capacities of about 550t/hr and an installed drive power of 6700kW each for the cement plants. These installations will come equipped with MPS 2800 BK type coal mills, each featuring a 720kW drive and an integrated SLS BK classifier. MVR 6000 C-6 cement mills are planned to grind clinker and extenders in at these cement plants or at grinding plants. These types of mill are already in successful operation at various sites belonging to Shree Cement. The cement producer currently runs 24 Pfeiffer mills.

Planned grinding plants will use the MVR 6000 C-6 mill to alternatively produce 300t/hr of Ordinary Portland Cement at a product fineness of 3100cm²/g acc. to Blaine or 300t/hr of Portland Pozzolana Cement containing as much as 35% of fly ash at a product fineness of 3500cm²/g acc. to Blaine or 180t/hr of ground granulated blast-furnace slag at a product fineness of 4500cm²/g acc. to Blaine. Each of the mills will come equipped with a 6700kW drive.

Gebr. Pfeiffer SE will supply the core components of the mill and the gear units from Europe. Its Indian subsidiary, headquartered in Noida, Gebr. Pfeiffer (India), will provide the components such as the housings of the mills and classifiers, the steel foundation parts as well as the internal parts of the classifiers. In addition, the Indian subsidiary will design the plant layout and advise the customer on the equipment it will procure on its own.

India: Shree Cement has completed the upgrade of a preheater on the clinker production line of Unit-I at its Beawar cement plant in Rajasthan. The clinker production capacity of the plant has now increased to 1.4Mt/yr from 1.1Mt/yr.

Meanwhile the cement producer has signed a memorandum of understanding with the government of Jharkhand to build a 2Mt/yr cement grinding plant in Sarai Kale Karasawa. The plant will have an investment cost of US$73m.

India: Shree Cement has won its bid for a coal contract from South Eastern Coalfields Ltd (SECL) for 80,000t/yr. The cement producer will gain the supply from the New Kusmunda mine in Chhattisgarh for US$14/t. In May 2016 the company announced plans to build a 2.8Mt/yr clinker production line at its integrated cement plant in Raipur, Chhattisgarh. The US$104m line, excluding land and other infrastructure costs, is set to be completed by March 2018.

India: The National Capital Region (NCR) division of the Confederation of Real Estate Developers’ Associations of India (CREDAI) has decided to boycott Shree Cement due to complaints of alleged inconsistent price increases and shortages of cement. The property body also intends to file a complaint with the Competition Commission of India, according to the Economic Times newspaper.

“Shree Cement is arbitrarily increasing prices and stopping supply in between, demanding a price revision, despite taking an advance,” said a CREDAI NCR spokesperson. “Through excuses such as plant not functioning properly and issues with transportation these companies are not meeting the delivery deadlines, thereby affecting the builders’ construction timelines.”

The NCR CREDAI previously stopped using cement from UltraTech and Lafarge, on alleged grounds of cartelisation and malpractices. However it reversed this decision when the cement producers reduced their prices. Shree Cement has not commented on the matter.