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Binani to sell 40% in cement arm to cut debt, expand

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To sell up to 40 per cent stake in its subsidiary Binani Cement, Binani Industries is in talks with potential financial investors such as JP Morgan and State-owned funds in the Middle East.

It seeks to raise capital to cut debt and expand cement capacities. Ernst & Young (E&Y), Braj Binani group’s banker for the transaction, has held preliminary talks with the prospective investors, sources said. E&Y will soon approach the investors with a document detailing the acquisition opportunity, one person said. Sunil Sethy, Executive Vice-Chairman and Managing Director, Binani Industries said that the company has taken an in-principal approval from the board to divest its holding up to 40 per cent to financial investors on a structured basis to facilitate its liquidity position and to consolidate its growth plans. E&Y, among others, is assisting Binani by talking to prospective financial investors. The divestment is on a structured and phased manner and the firm hopes to complete it within the next few weeks, said Sunil Sethy. The potential investors may include Abu Dhabi Investment Authority and Qatar Investment Authority. The company, with a capacity of 11.25 mtpa, has a 2 mtpa grinding unit in Dubai’s Jebel Ali Industrial Area and wants to scale up its capacities in China and Dubai. Its expansion plans include increasing domestic capacity by 3 mtpa and plants are located in Rajasthan.

Contact: Binani Cement.

Tel: 91 141 4134300 / 4124 300.

Website: www.binaniindustries.com

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Concrete

WCA Welcomes SiloConnect as associate corporate member

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The World Cement Association (WCA) has announced SiloConnect as its newest associate corporate member, expanding its network of technology providers supporting digitalisation in the cement industry. SiloConnect offers smart sensor technology that provides real-time visibility of cement inventory levels at customer silos, enabling producers to monitor stock remotely and plan deliveries more efficiently. The solution helps companies move from reactive to proactive logistics, improving delivery planning, operational efficiency and safety by reducing manual inspections. The technology is already used by major cement producers such as Holcim, Cemex and Heidelberg Materials and is deployed across more than 30 countries worldwide.

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Concrete

TotalEnergies and Holcim Launch Floating Solar Plant in Belgium

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TotalEnergies and Holcim have commissioned a floating solar power plant in Obourg, Belgium, built on a rehabilitated former chalk quarry that has been converted into a lake. The project has a generation capacity of 31 MW and produces around 30 GWh of renewable electricity annually, which will be used to power Holcim’s nearby industrial operations. The project is currently the largest floating solar installation in Europe dedicated entirely to industrial self-consumption. To ensure minimal impact on the surrounding landscape, more than 700 metres of horizontal directional drilling were used to connect the solar installation to the electrical substation. The project reflects ongoing collaboration between the two companies to support industrial decarbonisation through renewable energy solutions and innovative infrastructure development.

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Concrete

Cortec® Corporation applauded for its strong safety performance

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Cortec® Corporation has been recognised for its strong safety performance, receiving its sixth Governor’s Workplace Safety Award for its outstanding performance in 2025. As a Silver Achievement recipient, the company continues to maintain safety metrics well above national industry averages, an impressive accomplishment for a chemical manufacturing organisation. This achievement reflects Cortec’s proactive approach to workplace safety, focused on early hazard detection and employee involvement. The company will be formally recognised at the Minnesota Safety and Health Conference in May, highlighting how industrial companies are effectively strengthening workplace safety standards.

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