Concrete

JSW Cement Subsidiaries Achieves Milestones

Published

1 year ago

August 29, 2023

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Setting the Stage for Rapid Growth

In a significant stride towards cementing its position as a leading player in the industry, JSW Cement, a subsidiary of JSW Group, has achieved several milestones that underscore its commitment to innovation, sustainability, and expansion. The recent announcement by Parth Jindal, Managing Director of JSW Cement, through his Twitter account has brought to light the company’s remarkable achievements and its strategic roadmap for the future.

Parth Jindal, Managing Director of JSW Cement, shared these exciting developments on his official Twitter account:

Happy to inform all that @JSWCement subsidiary @shivacement has successfully commissioned its WHRS and is now running very well. This month Shiva will produce its highest ever amount of clinker. JSW Dolvi has also expanded successfully and is now at 4.5 MTPA taking our capacity…
— Parth Jindal (@ParthJindal11) August 29, 2023

1. WHRS Commissioning at Shiva Cement: A Step towards Sustainability
Shiva Cement, a subsidiary of JSW Cement, has achieved a notable milestone with the successful commissioning of its waste heat recovery systems. These systems not only enhance operational efficiency but also contribute significantly to the reduction of carbon emissions. The utilization of waste heat to generate energy aligns with the company’s commitment to sustainability and minimizing its environmental footprint.

2. Record Clinker Production by Shiva Cement
In a noteworthy development, Shiva Cement is set to achieve its highest-ever clinker production this month. This accomplishment is a testament to the company’s dedication to optimizing production processes and increasing capacity. The increase in clinker production signifies not only enhanced operational efficiency but also the capability to meet growing market demand.

3. JSW Dolvi Expansion Success: Boosting Overall Capacity
JSW Dolvi, another subsidiary of JSW Cement, has successfully completed its expansion, increasing its capacity to 4.5 million tonnes per annum (MTPA). This expansion contributes to JSW Cement’s overall capacity, which now stands at an impressive 19 MTPA. The expansion of JSW Dolvi demonstrates the company’s strategic approach to cater to the growing infrastructure and construction needs of the nation.

4. Ongoing Projects: Fueling Future Growth
JSW Cement’s expansion plans are not limited to the present achievements. The company is actively engaged in further expansion projects that will significantly boost its production capacity. Work is progressing at a rapid pace at the grinding unit in Vijayanagar and the new clinker line in the UAE. These projects, scheduled to be completed by December 2023, are poised to elevate JSW Cement’s capacity to an impressive 21 MTPA.

5. Ambitious Vision: Aiming for 60 MTPA in Five Years
JSW Cement’s remarkable achievements and strategic expansions reflect its ambitious vision for the future. The company aims to become India’s greenest cement company while positioning itself as a major player on the global stage. With the ongoing projects and their successful completion, JSW Cement is on track to achieve a capacity of 21 MTPA, and its ambitious goal is to further increase this capacity to a staggering 60 MTPA within the next five years.

Conclusion
The successful commissioning of WHRS, the record clinker production at Shiva Cement, the expansion of JSW Dolvi, and the ongoing projects all contribute to the company’s overarching vision.

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Concrete

Construction Costs Rise 11% in 2024, Driven by Labour Expenses

Cement Prices Decline 15%, But Labour Costs Surge by 25%

Published

2 days ago

November 19, 2024

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The cost of construction in India increased by 11% over the past year, primarily driven by a 25% rise in labour expenses, according to Colliers India. While prices of key materials like cement dropped by 15% and steel saw a marginal 1% decrease, the surge in labour costs stretched construction budgets across sectors.

“Labour, which constitutes over a quarter of construction costs, has seen significant inflation due to the demand for skilled workers and associated training and compliance costs,” said Badal Yagnik, CEO of Colliers India.

The residential segment experienced the sharpest cost escalation due to a growing focus on quality construction and demand for gated communities. Meanwhile, commercial and industrial real estate remained resilient, with 37 million square feet of office space and 22 million square feet of warehousing space completed in the first nine months of 2024.

“Despite rising costs, investments in automation and training are helping developers address manpower challenges and streamline project timelines,” said Vimal Nadar, senior director at Colliers India.

With labour costs continuing to influence overall construction expenses, developers are exploring strategies to optimize operations and mitigate rising costs.

Concrete

Swiss Steel to Cut 800 Jobs

Job cuts due to weak demand

Published

3 days ago

November 18, 2024

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Swiss Steel has announced plans to cut 800 jobs as part of a restructuring effort, triggered by weak demand in the global steel market. The company, a major player in the European steel industry, cited an ongoing slowdown in demand as the primary reason behind the workforce reduction. These job cuts are expected to impact various departments across its operations, including production and administrative functions.

The steel industry has been facing significant challenges due to reduced demand from key sectors such as construction and automotive manufacturing. Additionally, the broader economic slowdown in Europe, coupled with rising energy costs, has further strained the profitability of steel producers like Swiss Steel. In response to these conditions, the company has decided to streamline its operations to ensure long-term sustainability.

Swiss Steel’s decision to cut jobs is part of a broader trend in the steel industry, where companies are adjusting to volatile market conditions. The move is aimed at reducing operational costs and improving efficiency, but it highlights the continuing pressures faced by the manufacturing sector amid uncertain global economic conditions.

The layoffs are expected to occur across Swiss Steel’s production facilities and corporate offices, as the company focuses on consolidating its workforce. Despite these cuts, Swiss Steel plans to continue its efforts to innovate and adapt to market demands, with an emphasis on high-value, specialty steel products.

Concrete

UltraTech Cement to raise Rs 3,000 crore via NCDs to boost financial flexibility

UltraTech reported a 36% year-on-year (YoY) decline in net profit, dropping to Rs 825 crore

Published

3 days ago

November 18, 2024

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UltraTech Cement, the Aditya Birla Group’s flagship company, has announced plans to raise up to Rs 3,000 crore through the private placement of non-convertible debentures (NCDs) in one or more tranches. The move aims to strengthen the company’s financial position amid increasing competition in the cement sector.

UltraTech’s finance committee has approved the issuance of rupee-denominated, unsecured, redeemable, and listed NCDs. The company has experienced strong stock performance, with its share price rising 22% over the past year, boosting its market capitalization to approximately Rs 3.1 lakh crore.

For Q2 FY2025, UltraTech reported a 36% year-on-year (YoY) decline in net profit, dropping to Rs 825 crore, below analyst expectations. Revenue for the quarter also fell 2% YoY to Rs 15,635 crore, and EBITDA margins contracted by 300 basis points. Despite this, the company saw a 3% increase in domestic sales volume, supported by lower energy costs.

In a strategic move, UltraTech invested Rs 3,954 crore for a 32.7% equity stake in India Cements, further solidifying its position in South India. UltraTech holds an 11% market share in the region, while competitor Adani holds 6%. UltraTech also secured $500 million through a sustainability-linked loan, underscoring its focus on sustainable growth driven by infrastructure and housing demand.