Adani group is set to announce its second acquisition in the cement sector of Jaypee Group’s cement assets at an enterprise valuation of Rs 5,000 crore. India Cements has sold its Madhya Pradesh (MP) limestone mine and land for Rs 477 crore to Sajjan Jindal-owned JSW Cement.
Jaypee Group, including its subsidiary JPVL, has an installed cement capacity of 10.55 mtpa and 339 megawatts of captive power. A larger part of Jaypee’s cement business was earlier acquired by UltraTech in a deal worth over Rs 16,000 crore (22.4 million tonnes per annum, or mtpa, capacity) in 2016. JSW plans to touch 25 mtpa of cement capacity by 2024-25, from 17 mtpa. The consolidation in the cement sector has picked up pace with Adani and JSW groups closing in on smaller rivals.
Thyssenkrupp Polysius wins orders in Vietnam
ThyssenKrupp Polysius’ Asia Pacific division has secured an order for two Polflame-type main burners for an unnamed cement plant. The equipment supplier has highlighted the ability of its burner product to cope with low-grade coal and support high alternative fuel substitution rates as key selling factors. The order follows the purchase of an Impact Crusher by the same customer previously.
Lafarge Canada to donate to wild salmon project
Lafarge Canada has announced a five-year in-kind donation with the Nicomekl Enhancement Society (NES) in British Columbia. The agreement will see the building materials producer donate around US$15,000/yr in aggregates, concrete and labour to enhance the sustainability of the wild Pacific salmon population and ecosystem within the coastal area of the Nicomekl River.
Holcim divests Holcim Russia
Holcim has agreed to sell its Russian business to its local management. When the transaction is completed, the business will continue to operate under different branding. Holcim says that it remains committed to supporting Holcim Russia’s employees and ensuring an orderly transfer for its customers. DGAP Corporate News has reported that Holcim deconsolidated the subsidiary in March 2022, following Russia’s invasion of Ukraine.
The company’s statement said, “Holcim’s Board of Directors expresses its heartfelt concern about the tragic human suffering in the region, and is fully committed to supporting affected people, families and communities. The Board of Directors thanks all Holcim colleagues who are mobilising around the world alongside local NGOs to provide shelter, essential goods and medical supplies, as well as volunteering their time.”