Economy & Market

Siam Cement to buy stake in Indonesia's PT Chandra Asri Petrochemical Tbk

Published

12 years ago

November 30, 2011

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Thailand’s largest industrial conglomerate by sales, Siam Cement PCL, recently announced plans to buy a 30 per cent stake, worth US$441.2 million in Indonesia’s PT Chandra Asri Petrochemical Tbk. The 30 per cent stake will be purchased from two different sources. Siam Cement will buy a 22.9 per cent stake from Apleton Investments, a unit of Singapore government’s investment arm Temasek Holdings Pte. Ltd., and a 7.1 per cent stake from PT Barito Pacific Tbk. Chandra Asri, Indonesia’s sole cracker operator, operates 520 000 tpa of cracker at Merak, West Java. The company produces polyethylene, polypropylene, styrene monomer and various other olefins products. The company confirmed in a statement to the Thailand stock exchange that it will, through its wholly owned unit SCG Chemicals, hold 919.8 million shares in Chandra Asri.The controlling shareholder of Chandra Asri, Barito, a diversified company with business interests in the petrochemicals, forestry, property, mining and energy sectors, will hold a 59.4 per cent stake. The deal will allow Siam Cement to expand its presence in the region and fulfil its ambition of becoming a major petrochemicals player in Southeast Asia.

Concrete

Sustainable solutions by Ambuja Cement, ACC

Published

3 days ago

December 4, 2023

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Ambuja Cement and ACC the cement and building material companies of the diversified Adani Group announced solutions to an array of customer concerns while keeping environment sustainability at its core. Examples of this are the concrete mix proportioning solution; designed to optimise the proportions of aggregates, sand and water in concrete mixes considering their unique properties. This helps the company optimise the resources thereby minimising wastage. The company also developed an in-house modular curing solution, also known as zero-water curing. This technique helps concrete slab curing without excessive use of water. This has helped save about 39 million litres of water across multiple sites.

Concrete

Fornnax adds 430HP secondary shredder to it’s R-series line-up

Published

3 days ago

December 4, 2023

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Fornnax technologies showcased the R4000-HD tyre shredder at the IFAT expo 2023, where the company got a platform to interact with industry professionals from domestic as well as overseas markets and demonstrate the technological prowess of their machine. The R4000-HD is a powerful machine designed to make secondary shredding and steel separation more efficient and profitable.
The machine saves electricity and man-power and due to its design features it is built to make maintenance procedures easier and also lower the wear and tear to the equipment, thus lowering operating cost. It can process various materials from types, cables, e-waste and aluminium scrap. It is built to last 20-25years. With all its features and sturdy built, it is one of the most powerful secondary shredding machines in the industry.

Concrete

Udaipur Cement Works Limited doubles its clinker capacity

Published

3 days ago

December 4, 2023

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A subsidiary of the well known JK Lakshmi Cement Ltd., Udaipur Cement Works Ltd. (UCWL) recently announced the expansion of its clinker facility taking its current capacity from 1.5MTPA to 3 MTPA at Udaipur. The company, by the end of financial year 2023-24, plans to exceed twice the current capacity from 2.2 MTPA to 4.7 MTPA. The capacity expansion has been funded through a mix of equity and debt; the company recently successfully completed its rights issue of INR 450 crores.
They have two brands under their portfolio ‘Platinum Heavy Duty Cement’ and ‘Platinum Supremo Cement’.
Also known for their commitment to renewable energy and environment sustainability, they have the first and only of it’s kind floating solar power plant of 1MWp at it’s mines, fulfilling 50% of their electricity needs.