Global Cement News

India: The National Company Law Appellate Tribunal (NCLAT) has allowed the companies fighting to buy Binani Cement to ‘amicably’ settle the dispute. The tribunal was hearing a petition filed by Binani Industries, which holds over 90% of Binani Cement, according to the Press Trust of India. It followed a suggestion by the National Company Law Tribunal of Kolkata that also asked Binani Cement to consider taking an out-of-court offer between the cement producer and its lenders.

A consortium led by Dalmia Bharat won an auction for Binani Cement with a bid of US$974m in early March 2018. However, UltraTech Cement then made a direct bid to Binani Cement a few weeks later.

India/Indonesia: India Cements has purchased an 100% share of Raasi Minerals through its subsidiary Coromandel Minerals. The Singapore-based company owns a controlling stake in several coal mines in Indonesia. No value for the transaction has been disclosed.

India: The state government of Tamil Nadu has scaled down its support for the Amma Cement Supply Scheme. Sales data shows that the scheme failed to meet its targets in 2015 – 2016 and 2016 – 2017, according to the Hindu newspaper. Its highest level of sales was 52% of procurement in August 2016. The subsidised cement scheme was launched by former Chief Minister Jayalalithaa in 2014 to help lower and middle income groups purchase cement at subsidised prices.

Bangladesh: HeidelbergCement Bangladesh and China National Heavy Machinery have signed a deal to expand the Kanchpur plant near Dhaka, according to ENP Newswire. HeidelbergCement Bangladesh operates two cement grinding plants in the country.

Algeria: LafargeHolcim Algeria has continued exporting cement to The Gambia with a third consignment from its d'Oggaz plant. The 30,000t order of Ordinary Portland Cement was exported from the Port of Arzew to Banjul, according to the El Moudjahid newspaper. The deal follows two previous ones in December 2017 and March 2018.