Connect with us

Economy & Market

Everest to construct fibre cement plant in Orissa

Published

on

Shares

Everest Industries plans to set up a 1,00,000-tonne fibre cement product plant in Orissa with an investment of Rs 50 crore. "The company is in the process of identifying 20 acres in Orissa for the new plant that will produce roofing solution products. The expansion will be funded through internal accruals," said Manish Sanghi, Managing Director, Everest Industries.

Currently, Everest has six production lines of fibre cement for roofing and three lines for boards at its Roorkee plant. The company offers a complete range of building solutions which includes ceilings, walls, flooring, cladding, doors, roofing and pre-engineered steel buildings. Besides Roorkee, it has manufacturing facilities at Kymore, Nashik, Coimbatore and Kolkata. The building solution industry was badly hit in FY-11 due to the poor monsoon in 2009. The industry had registered a growth of just one per cent in the financial year 2010-11, said Sanghi. The industry may register a growth of 8-10 per cent this fiscal as the disposable income of farmers and rural areas has improved substantially on the back of a bumper harvest and higher realisations of commodities, he added. On the soaring cement prices, Sanghi said there are no concrete reasons for prices to remain so high particularly when there is an excess production capacity in the country. Cement prices may stabilise or soften from here on. It is surprising that the cement prices are the highest in the world despite the country ranked as the world’s second largest cement manufacturer, he said.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Concrete

Shree Cement reports 2025 financial year results

Published

on

By

Shares

Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Continue Reading

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

on

By

Shares

Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Continue Reading

Concrete

India’s cement consumption set to rise

Published

on

By

Shares

According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/

Continue Reading

Trending News

SUBSCRIBE TO THE NEWSLETTER

 

Don't miss out on valuable insights and opportunities to connect with like minded professionals.

 


    This will close in 0 seconds