Economy & Market

Cement firms may face strain on profitability

Published

4 years ago

October 14, 2021

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Rating agency ICRA expects cement companies to suffer from strain on their profitability in the coming quarter because of weak demand and the hike in rail freight charges in February 2013.

The government announced a slew of measures in the Union Budget 2013-14 to provide a fillip to infrastructure and housing demand such as additional interest deduction of up to Rs 1 lakh on housing loan, enhancement in provisions under Rural Housing Fund and improving funding of infrastructure projects.

In order to boost fund flow to infrastructure sector, the government encouraged the setting up of infrastructure debt funds, issuance of tax-free infrastructure bonds, credit enhancement by IIFCL.

Besides, it set up regulatory authority to address the problems faced by road projects, planned award of 3,000 km highway projects and extension of 80IA benefits for power projects by one year.

Although the rating agency expect these measures announced to support demand for cement in the long term, in the short-term cement demand may be driven by uptick in construction activities and government spending.

It may be noted that weak demand for cement post July 2012 reduced the overall growth in all-India cement production to 5.6 percent during 2012-13 from 6.7 percent in the previous year.

Concrete

WCA Welcomes SiloConnect as associate corporate member

Published

11 hours ago

April 13, 2026

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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.

Concrete

TotalEnergies and Holcim Launch Floating Solar Plant in Belgium

Published

11 hours ago

April 13, 2026

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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.

Concrete

Cortec® Corporation applauded for its strong safety performance

Published

11 hours ago

April 13, 2026

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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.