Economy & Market

Mumbai’s Bandra-Versova Sealink gets green nod

Published

8 years ago

March 6, 2017

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Maharashtra’s Environment Department has granted environment clearance for construction of the nine-km-long Bandra Versova Sealink (BVSL) to the Maharashtra State Road Development Corporation (MSRDC).
The plan of a sea link between Bandra and Versova was revived after scrapping the construction of a coastal road between Bandra and Versova following strong opposition from environmentalists and locals of Bandra, Juhu and the fishermen of surrounding areas.
The sea link now becomes a part of the Brihanmumbai Municipal Corporation’s (BMC) ambitious plan to construct a coastal road connecting the southern and northern ends of the city.
Kiran Kurundkar, joint managing director, MSRDC, said, "We have received the approval letter from the state environment department a week ago and with this we already have the Coastal Regulation Zone (CRZ) clearance from the Union Ministry of Environment and Forests (MoEF) in hand. Also, the evaluation of the bids for the construction of the project is currently ongoing."

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/