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JP Associates may sell cement unit

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Media reports indicate that lenders to JP Associates are forcing the company to sell its Gujarat-based 4.8 mn t cement plant in order to repay part of the debt.

Jaypee Group, of which JP Associates is a part, has a total debt of Rs 64,000 crore. Some reports indicate that JP Associates may sell the cement plant to UltraTech, a KM Birla company. Through this deal, JP may raise nearly Rs 4,000 crore.

Meanwhile, Jaypee Group is engaged in multiple discussions to sell power assets as well. The company could be looking at raising over Rs 10,000 crores via asset sales.

JP Power is holding talks with Sanjiv Goenka’s CESC for selling its 500 mw Bina Power Project at around Rs 1,500 to 1,750 crore, reports indicate.

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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.

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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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