Displaying items by tag: UltraTech Cement
India: UltraTech Cement plans to buy Jaiprakash Associates' Bhilai plant for US$330 – 345m. The plant has US$87.5m of debt.
UltraTech plans to take over Century Cement
08 May 2015India: Aditya Birla Group´s UltraTech Cement plans to merge the cement division of BK Birla-owned Century Textiles and Industries, Century Cement, in a share-swap proposal with a deal value of US$1.64bn. The transaction, if approved by the boards of both companies, would help UltraTech add 13Mt/yr to its existing capacity of 65Mt/yr, taking it to the total of 78Mt/yr.
Competition Commission of India clears Ultratech to buy two cement plants from Jaiprakash Associates
29 April 2015India: The Competition Commission of India (CCI) has cleared Ultratech Cement's proposed US$853m deal to buy two cement plants from Jaiprakash Associates in Madhya Pradesh. The acquisition is for a 2.6Mt/yr cement plant in Bela, with a 25MW captive power plant, and a 2.3Mt/yr cement plant in Sidhi with a 155MW captive power plant, according to the Economic Times.
"Looking at the details of the matter, the combination would not have any adverse impact on the market," the CCI order said.
UltraTech's cement production capacity will rise to 65Mt/yr. The company has set a target to reach 71Mt/yr by 2016. Following the sale Jaiprakash Associates, also know as Jaypee Group, will remain the country's third largest cement producer with a production capacity of 22Mt/yr.
UltraTech Cement profit falls by 24% to US$103 in Q4
27 April 2015India: UltraTech Cement has reported a 24% drop year-on-year in consolidated net profit at US$103m for the fourth quarter of 2014 - 15, mainly due to a US$18.5m fine imposed by the Competition Commission of India for cartel accusations. This compared to a US$136m net profit for the same period in the 2013-14 year. Turnover rose by 4.47% to US$1.04bn for the fourth quarter from US$993m.
During the quarter, the company commissioned a 2Mt/yr cement plant and a 10MW waste heat recovery system in Rajasthan, and a 6MW waste heat recovery system in Karnataka.
For the financial year that ended on 31 March 2015, the Indian cement producer reported a 4.88% drop year-on-year in its net profit to US$330m. Its turnover rose by 12.5% to US$3.83m. Cement and clinker sale of grey cement rose to 44.9Mt during the year from 41.5Mt in 2013 – 14. White cement sales rose slightly to 1.22Mt from 1.14Mt. The company raised its cement production capacity to 60.2Mt/yr during the 2014 – 15 financial year after it acquired cement plants from the Jaypee Group.
"With the focus on development of the infrastructure and housing sector, the company is positioned across the country to meet the rise in demand and participate in the next phase of growth in the country," said UltraTech Cement in a statement.
Century Textiles to sell cement business to UltraTech
22 April 2015India: Century Textiles & Industries is reportedly planning to sell its cement business and merge it in an all-share deal with India's largest cement maker UltraTech. Both companies are in the final stages of a plan to merge the cement businesses, according to local media.
Once approved by shareholders, the merged entity's cement production capacity would total 87M/yr. This would help UltraTech achieve 100Mt/yr ahead of its target of 2020. UltraTech would gain access to the eastern market while strengthening its presence in Maharashtra, Chhattisgarh and Madhya Pradesh.
Mumbai Port Trust allots land for cement terminal
10 April 2015India: The Mumbai Port Trust has allocated allotted 25,000m2 of land at Petroleum Godown to UltraTech Cement for 30 years, from which cement can be shipped in from other states and distributed to users across the city, according to trust chairman and managing director Ravi Parmar.
The land will be used to build a fully-automated cement handling terminal devoid of air pollution. In 18 months, when the terminal will be completed, it will engage in the transport of cement required for Mumbai's consumption via the coastal route. The estimated cost of the development of the facility, duly equipped with portable unloaders, 30,000t silos, bagging facilities and other ancillary facilities is about US$16.1m.
Mumbai city consumes approximately 1.25Mt/yr of cement. Currently, this cement is moved by road and rail through neighbouring states, necessitating the entry and exit of nearly 350 trucks per day, congesting the already strained city roads.
India: UltraTech Cement has commissioned its third clinker line at Aditya Cement (AC), Shambhupura in Rajasthan. The plant, which has a 6000t/day kiln and a clinker capacity of 2Mt/yr, can use a wide variety of fuels.
Meanwhile, its greenfield grinding plant in Jhajjar, Haryana is likely to be commissioned in 2016. "With this commissioning, UltraTech Cement will further increase its capacity in the north region," said UltraTech in a statement. "Further, the new grinding plant coming up in Jhajjar will assist us in capturing the growing demand for cement in this region with timely and effective supplies to the customers."
UltraTech wins coal block in Madhya Pradesh
23 February 2015India: On day six of India's coal block auction, 20 February 2015, UltraTech Cement won the Bicharpur coal block in Maharashtra for a price of US$48.2/t. The block contains coal deposits of 29.1Mt. UltraTech's parent company, Aditya Birla Group, has already won three blocks so far in the on-going coal block allocation auctions.
UltraTech and Hindalco Industries win coal mines in India’s auction
20 February 2015India: Day six of India's coal block auctions, on 19 February 2015, saw UltraTech Cement win the Bicharpur mine in Madhya Pradesh, which has 29.1Mt of coal reserves, for a bid of US$48.3/t. UltraTech beat ACC, Hindalco Industries, Jaypee Cement and OCL India, among others.
Aditya Birla Group's Hindalco Industries won the Gare Palma IV-5 block for US$56.3/t. The mine has estimated extractable reserves of 42.4Mt. It beat a number of rivals, including Ambuja Cement. Jindal Power Ltd won the Gare Palma IV-2 and 3 coal mines in Chhattisgarh, which have extractable coal reserves of 156Mt, for an estimated US$270m.
Jaiprakash Power Ventures wins coal block on day four
18 February 2015India: On the fourth day of India's coal block auctions, on 17 February 2015, Bharat Aluminium Co bid US$48.5/t to beat rivals Hindalco Industries and UltraTech Cement, among others, to win the Chotia mine in Chhattisgarh. The block has Grade C coal reserves with 1Mt/yr of production capacity. The price of imported coal of a similar grade is around US$72.2/t.
Jaiprakash Power Ventures won the Amelia North coal block in Madhya Pradesh for US$11.4/t, while agreeing to forego the mining cost. The mine has extractable reserves of 2.8Mt/yr and was previously owned by Madhya Pradesh State Mining Corp. OCL Iron & Steel won the Ardhagram mine in West Bengal at a price of US$36.9/t. The mine has extractable reserves of 400,000t/yr.