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The $5 trillion economy in 5 years

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Unfortunately, we are today in an unenviable situation with regards to the economy, with bad news and disappointing economic indicators popping all around us everyday. Not a day passes without new job losses and factory shutdowns being announced, and literally every new day brings to us signs of sickness in a new industry sector. It is now quite apparent that we have been experiencing a slowdown for the last two-three years, but it is only now, that it has become impossible to cover it up anymore. In fact, so strong was our denial of the downturn, that the recent budget, by its very design and by its assumptions and provisions refused to even so much as recognise that there was anything wrong at all. One will recall, that in our comments on the budget last month, we termed it an Utopia!

Be assured, that we are not here this day, to give our readers a lowdown on the slowdown. Our interest continues to lie in healthy cement consumption, and by corollary, we are also interested in things like construction and infrastructure. Even here, sadly we have but no good tidings to offer. It is no secret that the real estate in particular, and the construction industry in general, has been limping for sometime now. However, roads and metros were going strong so far, and were positive factors which helped redeem our infrastructure sector till recently. This has now received a body blow, by way of a letter from the PMO to NHAI, advising the latter to focus on asset management and refrain from taking on more debt for building more and more highways on EPC basis. Clearly, the government has lost appetite for direct investment into infra sector, and private investments are not forthcoming. All in all, we are probably looking at a lull in infra-building.

The emerging scenario is not pleasing – not for the cement industry, not for any of us, although the industry seem to be putting up a brave face. GDP growth estimates are being downgraded everyday by various expert bodies, the latest estimate being 5.5 per cent for the full year. Crisil has just now projected that cement consumption growth will be halved this year. To about 5 per cent, and to us, that really sounds optimistic. Just as the talk about $5 trillion economy in five years sounds like a sweet dream, if not a pipe dream.

Sumit Banerjee Chairman, Editorial Advisory Board

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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.

Image source:holcim

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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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