Projects

Shiva Cement revises investment for Sundargarh cement expansion project's phase I to Rs 248 crore

Published

14 years ago

June 30, 2011

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The Project Co-ordination Committee (authorised by the board) of Shiva Cement Ltd has revised the investment for the Sundargarh cement expansion project’s phase I to Rs 248 crore from Rs 163.5 crore. The capacity will now be increased from 0.13 mtpa to one mtpa, instead of up to 0.66 mtpa. It will be commissioned by March 2013. This information has been sourced from the company’s announcement to the Bombay Stock Exchange (BSE) on 10th June 2011. In May 2011, the company received the Environmental Clearance for the capacity to be expanded up to 1.05 mtpa. Earlier, it was expected to be commissioned by April 2013. In April 2007, the company announced that it would expand the cement capacity of its existing plant at Kalunga and Telighana in Sundargarh district of Orissa in two phases. In phase-II the company will set up a split-location grinding unit at Jajapur in Orissa to increase the capacity from one to 2.6 mtpa. Board of Director (BoD) approval for the phase I has been received. In February 2009, the Government of Orissa gave the approval for both the phases. IDBI Bank Ltd will give Rs 80 crore to the company for its expansion project. BoD had approved the terms of loan and working capital issued by IDBI Bank Ltd. It has also approved the 25.69 acres of land sanctioned by the Industrial Infrastructure Development Corporation, Government of Orissa for the project. Rs 50 crore will be raised through an equity instrument and rest of Rs 35 crore will be provided by ACC Cement, possessing 14 per cent stake in the company.

Projects

Adani Group to invest Rs 55,000 cr in Gujarat projects, including cement plant

Published

3 years ago

October 21, 2021

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Billionaire Gautam Adani announced over Rs 55,000 crore investment in next five years in a clutch of projects in Gujarat including the world’s largest solar park, a copper plant, a cement unit, and a lithium battery manufacturing complex, envisaging direct employment to 50,000 people.

Adani Group, which operates Mundra port in the state, announced plans to foray into petrochemical business with a Rs 16,000 crore project with German chemical major BASF.

Speaking at the 9th Vibrant Gujarat Summit here, Adani said his group’s investments in Gujarat in the past five years exceed Rs 50,000 crores and “we are further accelerating our investments.”

“Over the next 5 years, our investments will include the world’s largest solar hybrid park in Khavda. The anticipated investment in this park is Rs 30,000 crore. We also plan to establish a 1 GW Data Center Park in Mundra, a one million ton copper smelting and refining project, a cement and clinker manufacturing unit in Lakhpat, an integrated Lithium battery manufacturing complex and expand our Photovoltaic manufacturing capabilities. Overall, we anticipate a total of Rs 55,000 crore of investment in all these projects,” he said.

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Projects

Bangladesh’s Chhatak Cement announces modernisation project

Published

3 years ago

October 21, 2021

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Bangladesh’s Chhatak Cement Co Ltd has announced plans to modernise its facility and convert it from wet process to dry process. The company has begun to prepare a development project proposal, with a schedule to implement the upgrades by 2021.

According to company officials, Chhatak Cement has incurred an accumulated loss of over BDT3.63bn (US$43.25m) between FY13-14 and FY17-18, mainly due to its outdated machinery resulting in loss of production capacity. The plant is currently operating at 70,000 tonnes per annum (tpa).

However, the new project is anticipated to boost production capacity and increase annual company profit to around BDT1bn. The modernisation is expected to be financed by a BDT8.9bn investment from the government, with BDT5.34bn as a loan with a payback period of seven years and the rest as equity, according to The Financial Express.

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Projects

Forced shutdown of Viet-Dung Quat cement plant in Vietnam

Published

3 years ago

October 19, 2021

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The Dai Viet-Dung Quat cement plant has been forced to temporarily shut down in the central province of Quang Ngai due to environmental pollution. Since 26 May, the locals had gathered in front of the plant to call for a shutdown.

Director of Central Region Cement JSC Trinh Van Dien, investor in the Dai Viet-Dung Quat cement plant, said, “We invited an environmental monitoring team to check the dust concentration and the results are safe. The local Department of Natural Resources and Environment hasn?t reached a conclusion on the noise level yet.”

He added, “We?ve had to temporarily close the plant, meaning we”re losing VND300m (US$13,437) and the 100 workers are kicking their heels at home. I don”t know what to do.”

The ground clearance work should have been done this year but the coal-powered plant project was delayed until 2020. As a result, the ground clearance work has also been delayed.

According to the locals, they want to be compensated for the relocation if the plant stays. “We don?t want to stay. We have to move,” local Nguyen Ne said.

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