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CVCI in fray for Rs 400 cr Shriram cement stake

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After other private equity firms opted to be out of the fray, Citi Venture Capital International (CVCI) is holding talks to invest Rs 400 crore in the cement unit of the diversified southern conglomerate Shriram Group.The $9-billion Shriram Group initiated the process to sell stake in Sree Jayajothi Cements in which it acquired 70 per cent stake earlier this year following conversion of loans into equity. Private equity biggies like Blackstone, Kohlberg Kravis Roberts & Co and Mount Kellet had shown initial interest, but CVCI appears to be the investor in serious discussions.Sources said that CVCI team, which manages India investments, has had detailed discussions with Shriram on the possible deal. It still has not reached a definite stage, the sources added. CVCI is an emerging markets focused private equity group that invests behind entrepreneurs and business families. It recently invested Rs 764 crore in an arm of Mumbai-based holiday maker Cox & Kings.

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Concrete

Holcim UK drives sustainable construction

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Holcim UK has released a report titled ‘Making Sustainable Construction a Reality,’ outlining its five-fold commitment to a greener future. The company aims to focus on decarbonisation, circular economy principles, smarter building methods, community engagement, and integrating nature. Based on a survey of 2,000 people, only 41 per cent felt urban spaces in the UK are sustainably built. A significant majority (82 per cent) advocated for more green spaces, 69 per cent called for government leadership in sustainability, and 54 per cent saw businesses as key players. Additionally, 80 per cent of respondents stressed the need for greater transparency from companies regarding their environmental practices.

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Concrete

GCCA releases LCR system

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The Global Cement and Concrete Association (GCCA) has launched the Low Carbon Ratings (LCR) system for cement and concrete, a new global rating based on products’ carbon footprints. The system uses a clear AA to G scale to help customers prioritise sustainability in material selection across construction sectors worldwide. The GCCA says that the LCR system is designed to be easily recognisable, with a simple visual graphic that indicates a product’s rating and provides consistency and comparability to other products.

Image source:highways.today

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Concrete

FLSmidth opens eco-friendly plant in Casablanca

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FLSmidth has inaugurated a €21 million mill liner manufacturing plant in Casablanca, covering 11,250m² with a production capacity of 6,500 tonnes annually. The LEED-certified facility significantly reduces carbon emissions by up to 56 per cent and fully recycles water used in the manufacturing process. Up to 250 jobs will be created in the Valparaíso region. Mikko Keto, CEO, highlighted the plant as a symbol of FLSmidth’s commitment to sustainable mining and community engagement in South America. Earlier in 2024, the Denmark-based company announced plans to sell its cement division to sharpen its focus on mining operations.

 

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