Economy & Market

Ahir orders probe into land acquisition

Published

9 years ago

July 4, 2016

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Maratha Ambuja Cement Project at Upparwahi is on the radar of union minister of state for chemical and fertilizers, Hansraj Ahir for alleged oppression of project affected people. Ahir on Friday directed district collector Deepak Mhaisekar to investigate into the irregularities done by the company in land acquisition around two decades ago and submit a report to state government. Ahir had summoned a joint meeting of administrative officers and representative of project affected farmers to resolve the issue. He claimed that Maratha Ambuja cement company had paid paltry compensation for acquiring hundreds of hectares of excess land from farmers in 12 villages of Korpana tehsil.

Ahir has been pursuing the issue since he was in the opposition. He had even summoned a Mahapanchayat of farmers from 70 villages few years ago demanding back unused land with various cement companies. According to him, Ambuja company alone had acquired 1,848 hectares from 12 different villages at meagre rates. However, company has only utilized only few hundred hectares for the project and more than 1,000 hectares is lying unused.

Concrete

Shree Cement reports 2025 financial year results

Published

6 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

6 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

6 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/