Displaying items by tag: land lease

India: Ramco Cements has concluded an agreement to acquire limestone reserves in Andhra Pradesh’s Nandyal District from Prism Johnson. The Hindu newspaper has reported that Prism Johnson will transfer a mining lease for 663 hectares of land to Ramco Cements. The parties expect to conclude the transaction by the end of July 2023.

Prism Johnson had previously planned to build an integrated cement plant on the reserves, but said that this no longer suited its priorities.

India: Orient Cement says that it has 'mutually terminated' a memorandum of understanding with Adani Group subsidiary Adani Power Maharashtra for a sublease of land in Tiroda in Maharashtra. Orient Cement had planned to establish a grinding plant on the land. It is located at the site of Adani Power Maharashtra's Tiroda coal-fired power plant and belongs to the state-owned Maharashtra Industrial Development Corporation. The parties signed the agreement in September 2021. The reason for termination was the parties' failure to meet its conditions, even despite extensions beyond the stipulated 365-day period in which to do so.

Tunisia: Les Ciments de Bizerte recorded a full-year consolidated turnover of US$40.1m in 2022, corresponding to a drop of 5.4% year-on-year from 2021 levels. The producer's clinker production fell by 24% year-on-year to 538,000t. African Manager News has reported that the company faced a forced stoppage during the year due to a disruption to its raw materials supply. Meanwhile, its costs increased amid rises in the price of petcoke, electricity, diesel and packaging materials.

China: Dalian Onoda Cement, a subsidiary of Japan-based Taiheiyo Cement, says that it plans to suspend cement production at its Dalian cement plant in Liaoning. The producer said that it will shut the plant when its land lease expires in December 2022.

India: The state government of Karnataka has approved the allotment of 6 hectares of land to Everest Industries. Reuters News has reported that the company plans to build a cement boards plant. The plant will produce either conventional cement boards or the company's Rapicon reinforced aerated concrete and gypsum wallboard sandwich panels.

India: The Indian Coal Ministry has deducted Jaypee Cement’s bank guarantee for a lease for a planned coal mine. The Hindu newspaper has reported that the project is among 44 others penalised for delays in operation or missing production targets. UltraTech Cement also received a show cause notice regarding adherence to its timeline at one of its coal blocks.

China: Jiangxi Wannianqing Cement’s net profit in 2019 was US$197m, representing a 20% year-on-year increase from US$164m. Reuters has reported that on 15 November 2019 Jiangxi Wannianqing Cement paid US$82.6m for a lease and limestone exploration rights for land in De’an County, Jiangxi Province, previously held by Fushan Cement. On 25 June 2019 the company received US$23.3m in government compensation for the relocation of its Wannian cement plant.

India: The state government of Odisha has leased an area of limestone-bearing land that includes the Asura Vihara Gumphas, a first century BC Jain religious centre with significance in local mythology. The Blink newspaper reported that the site, consisting of three caves, is ‘covered by thick vegetation’ and in need of ‘proper conservation and preservation.’ Indian National Trust for Art and Cultural Heritage (INTACH) Odisha state curator Anil Tripathy said, ‘the caves should be retrieved from the company and the allotment of the site cancelled.’ Toshali Cements is reportedly carrying out limestone surveys on an area, including the caves.

INTACH is in the process of conducting a comprehensive survey of the Mahandi Valley, in which the land lies, and has identified over 1000 monuments of ‘tangible heritage.’

UK/Ireland: Sean Quinn has bought ‘substantial’ tracts of limestone-rich land in Cavan and Fermanagh on 99-year leases, giving him sole extraction rights, over the past three and half years since his final severance with Quinn Industrial Holdings in mid-2016, according to the Sunday Times. The purchases may have been aimed at strengthening his position in his campaign to re-attain control over the company. It has stated that it has succeeded in supplementing its on-site limestone supply with material from further afield. “These materials are of a higher quality,” said a Quinn Industrial Holding spokesperson.

Oman: Raysut Cement, Oman’s leading cement producer, has taken a step forward in the implementation of its 1Mt/yr Duqm grinding plant plans by securing a land lease and port of terminal services agreement from the Port of Duqm. Raysut chief executive Joey Ghose has said that the Duqm unit will help to secure Raysut’s presence ‘in Oman and the neighbouring Gulf markets,’ as well as support strategic investments oversees. Raysut’s 6.4Mt/yr integrated capacity extends from East Africa to the Caucasus. The company has India as its next phase expansion target.