Economy & Market

Rs 37,653 cr to be invested in AP's cement, fertiliser sectors

Published

13 years ago

June 28, 2012

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Andhra Pradesh has received investment proposals of Rs 37,653 crore from cement and fertiliser sectors alone during its Partnership Summit held in January this year.The Andhra Pradesh State Investment Promotion Board (SIPB), headed by Chief Minister N Kiran Kumar Reddy, on June 27 cleared 25 investment proposals with a combined investment of Rs 40,379 crore. of the sum, Rs 37,653 crore comes from cement and fertiliser sectors.The cement sector continues to enjoy the government patronage so far this year. It may be recalled that the State government had cleared 15 cement projects with proposed investments of Rs 15,392 crore last year.Reliance Cement Company Private Limited of the Anil Dhirubhai Ambani Group is among the 13 cement projects that will be bringing in Rs 20,980 crore. Some of these cement companies have also proposed to set up captive power units.Incentives, including a 25 per cent value-added tax (VAT) reimbursement, have been granted to these projects as per the state industrial policy, according to the officials. Of these 25 projects, about 20 investment proposals were part of the MoUs signed during the Partnership Summit held in January this year.

Concrete

Shree Cement reports 2025 financial year results

Published

4 days ago

June 17, 2025

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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/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

4 days ago

June 17, 2025

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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/

Concrete

India’s cement consumption set to rise

Published

4 days ago

June 17, 2025

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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/