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Ambuja Cement, part of Swiss cement company LafargeHolcim, has planned to infuse Rs.1,391 crore to set up a greenfield clinkerisation plant in Rajasthan. Proposal to set up 3.1 million tonne plant has been approved by the board of directors. An initial investment of Rs.1,391 crore will be made towards the Phase-I with a capacity of […]

UltraTech Cement has got the go- ahead for its limestone mining project in Bhavnagar district, Gujarat that would entail an investment of about Rs. 60 crore, as per official documents. Proposal is to mine limestone in a lease area of 632 hectare with production capacity of 2.07 million tonne per annum (TPA). Total mineral reserves […]

The boards of Dalmia Bharat Limited and OCL India Ltd (OCL) have decided to merge the two entities, a move that will create the fourth largest cement maker in the country with an installed capacity of 25 million tonnes per annum and annual revenues of about Rs 10,000 crore. Dalmia Bharat, the flagship company of […]

An uptick in demand in north India followed by strong pricing discipline resulted in a rebound in cement prices to Rs 305-345 per cent bag in the first half of 2016-17 from Rs 225-240 a bag in January 2016. During April-September 2016-17, cement prices in the North were higher by around Rs 60-65 per bag, […]

M P Birla Group’s flagship company, Birla Corporation on Monday said it has completed the acquisition of the cement business of Anil Ambani-owned Reliance Infrastructure Ltd (RIL) in a stake sell agreement it concluded with RIL in February, this year. In a regulatory filing with the Bombay Stock Exchange, Birla Corporation (Birla Corp) said that […]

Absolute Cement & Polymers plans to set up a cement grinding unit with a capacity of 0.6 million tpa at Udayrampur Nangla village, Dhaulana taluka, Hapur in Ghaziabad district of Uttar Pradesh. The estimated cost of the project is Rs 26.94 crore. The project will be spread over 18,920 sq mtr of land. The company […]

Cement demand is likely to increase 6 per cent this fiscal from 5 per cent in 2015-16 on the back of better monsoons and government focus on developing infrastructure, rating agency ICRA said today. “Cement demand growth, which was relatively muted at 5 per cent in fiscal 2015-16 and 3.4 per cent in April-May 2016, […]

Shares of midcap cement companies have rallied up to 13%, with most of them hitting their respective 52-week highs on the BSE in intra-day trade after reporting robust earnings for the quarter ended June 30, 2016 (Q1FY17) because of lower operational costs. Mangalam Cement, JK Cement, JK Lakshmi Cement, Sagar Cements, OCL India, Saurashtra Cement […]

UltraTech Cement, part of the Aditya Birla Group, on Monday agreed to buy Jaiprakash Associates’ 17.2 million tonnes per annum (mtpa) cement capacity for an enterprise value of Rs 16,189 crore. The deal was revised upwards from Rs 15,900 crore that was agreed on March 31. This is the second revision to the deal price […]

Nirma has agreed to acquire Lafarge India’s cement assets for about $1.4 billion (Rs.9,400 crore), outbidding Sajjan Jindal-led JSW Cement and Piramal Enterprises, as Indian companies vie to add capacity for the building material to tap growing demand from the infrastructure sector. LafargeHolcim, the Swiss building materials behemoth created out of the 2015 Lafarge-Holcim merger, […]