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NHLML, Himachal Pradesh govt signs MoU for 7 ropeway projects

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Ropeway projects of 57 km worth Rs 3,232 cr have been given go-ahead

The National Highways Logistics Management Limited (NHLML), and the Himachal Pradesh Government signed a memorandum of understanding (MoU) for the seven ropeway projects construction in the State under the Parvatmala Yojana.Ropeway projects of approximately 57 km worth Rs 3,232 crore have been given the go-ahead by NHLML, and the Himachal Pradesh Government.Nitin Gadkari, Union Minister of Road, Transport, and Highways, and Jai Ram Thakur, Chief Minister of Himachal Pradesh, were present on the occasion. The Ministers also inspected the ongoing developmental projects in the State. Parvatmala is a National Ropeways Development Programme proposed to build a modern system of transportation and connectivity in the mountains.In February 2021, the Government of India (Allocation of Business) Rules 1961 were amended and allowed the Ministry of Road, Transport and Highways (MoRTH) to look after the development of ropeway and Alternate Mobility Solutions. Nirmala Sitharaman, Union Finance Minister, while presenting the Union Budget for 2022-23, announced the Parvatmala project that will be taken up on Public-Private Partnership (PPP) mode.

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Also read: NHAI terminates Chetak Enterprise’s Kaithlighat-Dhalli road contract

Concrete

Shree Cement reports 2025 financial year results

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

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Rekha Onteddu to become director at Sagar Cements

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

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Concrete

India’s cement consumption set to rise

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/

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