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PE fund may invest Rs 4 bn in cement firm

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It is learnt that a private equity fund may invest Rs 400 crore to set up a captive power plant in the Kurnool cement unit of Sree Jayajothi Cements.

The private equity fund is also expected to pay the erstwhile promoters of Sree Jayajothi Cements. This will improve Shriram EPC’s liquidity as it also has a stake in Sree Jayajothi Cements . The deal is to be finalised by the year end.

Shriram EPC picked up a majority stake in the 3.2 million tonne cement unit in Kurnool to recover its dues from the promoters, the Rajapalayam-based Jayajothi Group. The cement firm owes payment to Shriram EPC for the latter’s engineering contract.

Reports suggest that Shriram EPC’s investment in the cement firm continues to weigh it down as the net worth of the cement company has been partially eroded.

For the second quarter, Shriram EPC reported a net profit of Rs 4.26 crore on a total income of Rs 376.84 crore. In the corresponding period the previous year it reported a net profit of Rs 6.28 crore on a total income 216.43 crore.

Shriram EPC has invested over Rs 366 crore in the cement unit including Rs 108 crore as equity and Rs 256 crore, indirectly through a group company, in Optionally Convertible Debentures.

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Concrete

CCU testbeds in Tamil Nadu

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Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

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Concrete

JSW Cement gears up for IPO

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JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

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Concrete

Cement industry to gain from new infrastructure spending

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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/

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