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Emami Cement gets Sebi nod for IPO

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Emami Cement (ECL), the cement arm of Kolkata-based Emami Group, has got the capital market regulator Securities and Exchange Board of India’s (Sebi) nod for initial public offering (IPO) to raise Rs 1,000 crore. It has filed its draft red herring prospectus (DRHP) with Sebi on October 12, 2018.

ECL has an installed manufacturing capacity of 5.60 million tonnes per annum (mmtpa). It currently operates three manufacturing plants and is in the process of setting up another plant, which, subject to receipt of necessary approvals, is expected to result in an aggregate installed capacity of 9.30 mmtpa of cement and 3.2 mmtpa of clinker.

The proposed IPO comprises equity shares of face value of Rs 10 each of Emami Cement aggregating up to Rs 1,000 crore, including a fresh issue aggregating up to Rs 500 crore and an offer for sale up to Rs 500 crore.

The company proposes to utilize the net proceeds raised through the fresh issue for repayment and prepayment of certain debts mounting to about Rs 400 crore.

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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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