Economy & Market

Cement firms may face Rs 3k cr fine

Published

13 years ago

May 31, 2012

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Competition Commission of India (CCI), India’s competition watchdog, is expected to slap a fine of about Rs 3,000 crore on top cement companies, ruling them guilty of forming a cartel and fixing prices. The CCI’s order is expected in a few days, sources said.Based on a complaint by Builders Association of India (BAI), CCI was probing the cartelisation charges. CCI alleged that the retail prices fixed by cement manufacturers were almost similar.A top source in CCI said the watchdog had the power to impose a fine of 10 per cent of the average turnover of a company in previous three years, but it would scale down the penalty as the economy was facing a slump and cement was a key input in critical sectors.A top source in CCI told a leading business newspaper that cement can affect market sentiments to a great effect. So, it was decided that CCI would impose a token punishment of 5-8 per cent of the past three years’ average turnover to send a stern signal to the guilty companies without hampering market sentiments.

Concrete

Cement industry to gain from new infrastructure spending

Published

6 days ago

July 24, 2025

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

Concrete

AI boom drives demand, says ACA

Published

6 days ago

July 24, 2025

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The American Cement Association projects a nearly 1Mt annual increase in US cement demand over the next three years, driven by the surge in AI data centres. Consumption by data centres is expected to grow from 247,000 tonnes in 2025 to 860,000 tonnes by 2027. With over 5,400 AI data centres currently operating and numbers forecast to exceed 6,000 by 2027, the association cautions that regulatory hurdles and labour shortages may impact the industry’s ability to meet demand.

Image source:https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1zOrih.img?w=2000&h=1362&m=4&q=79

Concrete

GoldCrest Cement to build plant in India

Published

7 days ago

July 23, 2025

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GoldCrest Cement will build a greenfield integrated plant with a 3.5Mt/yr clinker capacity and 4.5Mt/yr cement capacity. GoldCrest Cement appointed Humboldt Wedag India as engineering, procurement and construction contractor in March 2025 and targets completion by March 2027. It has signed a 40-year supply agreement with Gujarat Mineral Development Corporation for 150Mt of limestone from its upcoming Lakhpat Punrajpur mine in Gujarat.