Displaying items by tag: India
Dungsam Cement waiting for Indian market to pick up
21 June 2016Bhutan: Dungsam Cement is waiting for the market to improve in India following announcements of infrastructure development from the government. The latest budget in the neighbouring country is expected to boost demand for cement and steel in the north-eastern region of India and in Bhutan. The cement producer made a loss of US$10.9m in its last financial year, according to the Bhutan Broadcasting Service.
“We are eagerly waiting for the release of the development budget. We have 593 hours worth of cement silos full and waiting to be dispatched in the northeast,” said Dungsam Cement’s CEO, Dorji Norbu.
India: All options are being considered by the state government for the Mawmluh Cherra Cement plant in Meghalaya including handing the plant over to private investors. Chief minister Mukul Sangma refused to rule out the option when asked about the state owned cement plant, according to the Indian Telegraph.
"In the process of trying to turn any public sector undertaking of the government into a profit-making body, the authorities concerned have been asked to consider all options. Let them come up with the options and then the best one will be considered," said Sangma.
The cement plant stopped production in 2014. It has since been dogged by high staff costs. In early June 2016 the Meghalaya government approved a voluntary retirement scheme for 145 of the plant’s 445 employees.
India: Parth Jindal has been appointed as Managing Director of JSW Cement. He will assume the position in July 2016 and will be assisted by Anil Kumar Pillai as CEO, according the Business Line.
Jindal is the son of Sjjan Jindal, the chairman of JSW Group. The 25-year old has worked previous as an Economic Analyst for JSW Steel amongst other positions in the group. He is also the chief executive of the group's sport company, which owns Bangalore Football Club.
KCP to expand production at Muktyala cement plant
10 June 2016India: KCP plans to expand the production capacity of its cement plant at Muktyala in Andhra Pradesh to 3.5Mt/yr from 1.8Mt/yr. The company said in a statement that the upgrade is expected to cost US$60m. KCP operates two integrated cement plants in Andhra Pradesh.
Sarat Jain resigns from Jaiprakash Associates
08 June 2016India: Sarat Kumar Jain, vice chairman of Jaiprakash Associates, has resigned from the group with immediate effect. Jain had been associated with the Jaypee Group for over 50 years. The firm said in a statement that the 78 year old had cited health reasons as his reason to resign.
Shivam Cement receives Indian export certificate
08 June 2016Nepal: Shivam Cement has received an ISI certificate, allowing it to export cement to India. The company said in a statement that it is now one of the few cement producers in Nepal that can export cement to India.
India: Shree Cement has ordered a pyro-processing line with KHD for its Raipur plant in eastern India. The order follows the commissioning and handover of a previous KHD pyro-processing system that was installed at Raipur in December 2015.
The order includes: a three pier rotary kiln (Ø = 5.2m, L = 70.0m); a Pyrojet burner; a two-string, six-stage PRZ 9576 preheater; and a Pyrostep PSC2 3-135.12T clinker cooler. Commissioning for the Raipur Line II is expected in third quarter of 2017.
Jaypee Group defaults on US$666m payments
06 June 2016India: Jaypee Group companies have defaulted on loans and other payments worth US$666m. The group has, on a consolidated basis failed to repay US$434m in principal amount to banks and another US$233m in interest payments.
Jaiprakash Associates, the group's main company, reported a loss of US$500m in its 2015 – 2016 financial year, compared to US$259m in the same period in the previous year. Earlier in 2016, Jaiprakash Associates agreed a deal to sell cement plants in five states to UltraTech Cement for US$2.4bn. Once the deal concludes Jaiprakash Associates will be left with a cement production capacity of 10.6Mt/yr in Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Karnataka.
India: Barak Valley Cements intends to expand its cement plant at Karimaganj, Assam. Its cement grinding plant at the site will be upgraded 1000t/day from 750t/day. Other improvements will also be made to its clinker production line without increasing its overall capacity.
India Cements promotes sulphate-resistant cement
31 May 2016India: The India Cements Limited (ICL) has started promoting a new sulphate-resistant cement. The new product, Coromandel SRC, is a specialty-blended cement targeted for construction in aggressive environment such as a coastal areas. It will be manufactured at its Vishnupuram Plant in Telangana, according to the Hindu newspaper.
The new product is part of a business drive by the cement producer to improve its relationship with the distribution network. Other initiatives include extending technical support to its stockists and dealers in marketing new products. The company is also promoting Coromandel Duralite Autoclaved Aerated Concrete (AAC) blocks which are made from cement, fly ash, lime and alumina, an aeration agent.