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Growth and Equilibrium

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Ujjwal Parwal, Director and Founder, RationalStat, underscores the importance of a balance between economic growth and sustainability, as the cement industry takes the challenge of technology and innovation head on.

Emphasising the critical role of a well-established infrastructure network in the pursuit of India’s ambitious US$ 5 trillion economic targets, India is making substantial investments in large-scale projects aimed at bolstering economic resilience and unlocking new avenues for investments. India is experiencing rapid growth through improved connectivity, enhanced logistics, and the initiation of residential and commercial projects to meet both present and future needs. Key development projects like the Bharatmala project, Delhi-Mumbai Industrial Corridor, PM Gati Shakti and others are driving this growth.
However, this expansion of infrastructure is taking place against a backdrop of increasing concerns about climate change, making it essential to strike a balance between economic development and sustainability. Cement, a critical component of all infrastructure projects and the foundation of construction is poised to experience a significant surge in demand. Achieving the right equilibrium between economic growth and sustainability necessitates the incorporation of innovation and technology to make the cement manufacturing process more environmentally friendly.

Market Scenario
Between 2012 and 2023, the installed cement production capacity grew by 61 per cent to 570 MT from 353 MT. The Indian cement sector’s capacity is expected to expand at a compound annual growth rate (CAGR) of 4-5 per cent over the five-year period up to the end of 2028. The expected cement production capacity in 2028 will be nearly 720 MT. In addition, India’s cement production in 2024 is expected to grow by 7-8 per cent driven by infrastructure-led investment and mass residential projects. Cement consumption in India grew at a considerable CAGR of 5.7 per cent from 2016 to 2022. As per RationalStat research reports, the Indian cement industry is likely to add 82 million tonnes by 2024, the highest in the last 10 years, driven by increasing spending on housing and infrastructure activities. Cement consumption is expected to reach 480 million tonnes by the end of 2028.

Challenges and Opportunities
At present, India is witnessing significant infrastructure development, with a concurrent rise in housing demand. Consequently, Moody’s predicts that cement production in India will increase by approximately 6-8 per cent over fiscal years 2023 and 2024. The housing sector, which typically accounts for 60-65 per cent of India’s cement consumption, remains a central driver of demand. Therefore, the challenge lies in enhancing the cleanliness, efficiency and sustainability of the cement manufacturing process through innovation and technology.
India is the second largest producer of cement in the world, and the cement sector is a major contributor to the country’s greenhouse gas (GHG) emissions. However, the Indian cement industry is also taking steps to reduce its environmental impact through the adoption of new technologies. The cement industry is one of the largest industrial emitters of greenhouse gases (GHGs), accounting for around 7 per cent of global CO2 emissions. This is due to the energy-intensive process of cement production, which involves heating limestone and clay to over 1400 degrees Celsius.
The shift towards sustainable cement manufacturing is also pressing, given that cement production is one of the highest-emitting industries globally, contributing to 7 per cent of global CO2 emissions. It is one of the most widely used products worldwide, with applications ranging from residential to urban construction, making it indispensable for societal progress. Hence, swift adoption of sustainable practices is necessary to mitigate environmental impact and contribute to achieving sustainability targets, such as India’s goal of becoming carbon-neutral by 2070.

Role of Technology
Incorporating innovation and technology is the key to making cement production in India more environmentally friendly. Cement manufacturers must play a dual role by supporting India’s economic growth by meeting cement demand and contributing to the sustainability mission by ensuring minimal environmental impact of cement production. Strategies may include the integration of waste heat recovery systems to meet energy demands sustainably, reducing electricity requirements, investing in high-efficiency coolers and preheaters to minimise kiln heat requirements and transitioning to clean energy sources like solar or wind energy.

The Road Ahead
Cement manufacturers can also explore waste-to-fuel conversion processes and the implementation of carbon capture, utilisation and storage methods, which involve capturing CO2 emissions and either storing them or using them to produce chemicals, concrete or plastics, thereby promoting a circular economy.

Cement plants must use digitalisation and
technological advancement, accelerating the
adoption of technologies such as robotics, artificial
intelligence, IoT, data analytics and other innovations
to expedite sustainability efforts like process
optimisation, higher efficiency, enhanced visibility
and control over operations


Here are some cement producers in India with sustainability goals:
UltraTech Cement: UltraTech Cement is committed to reducing its carbon footprint and increasing its use of renewable energy. The company has set a target to reduce its CO2 emissions by 33 per cent by 2030. UltraTech Cement is also investing in waste heat recovery systems and geopolymer concrete.
Dalmia Bharat Cement: Dalmia Bharat Cement has set a target to achieve net-zero emissions by 2040. The company is investing in carbon capture and storage (CCS) technologies, waste heat recovery systems, and renewable energy. Dalmia Bharat Cement is also using supplementary cementitious materials (SCMs) to reduce the clinker content of cement.
Shree Cement: Shree Cement is committed to reducing its environmental impact and promoting sustainable development. The company has set a target to reduce its water consumption by 20 per cent by 2030. Shree Cement is also investing in renewable energy and waste management.
Ambuja Cements: Ambuja Cements is committed to reducing its carbon footprint and promoting sustainable development. The company has set a target to increase its use of renewable energy to 25 per cent by 2030. Ambuja Cements is also investing in waste heat recovery systems and geopolymer concrete.
ACC Limited: ACC Limited is committed to reducing its environmental impact and promoting sustainable development. The company has set a target to reduce its carbon footprint by 33 per cent by 2030. ACC Limited is also investing in renewable energy and water conservation.
These are just a few examples of cement producers in India with sustainability goals. Many other cement companies in India are also taking steps to reduce their environmental impact and promote sustainable development. In addition to the companies listed above, a number of startups in India are also working to develop and commercialise sustainable cement technologies.
One of the most effective ways to reduce GHG emissions from cement production is to improve energy efficiency. This can be done by using more efficient kilns, preheaters, and other equipment.
For example, some cement companies are now using waste heat recovery systems to capture heat from the kiln and use it to generate electricity or preheat the raw materials. Others are using alternative fuels, such as biomass, to reduce their reliance on fossil fuels.
Reducing clinker content: Clinker is the main component of cement, and it is also the most energy-intensive to produce. By reducing the clinker content of cement, cement companies can significantly reduce their GHG emissions.
One way to reduce clinker content is to use supplementary cementitious materials (SCMs), such as fly ash, slag, and silica fume. SCMs are industrial waste products that can be used to replace a portion of the clinker in cement without sacrificing performance.
Another way to reduce clinker content is to use new cement formulations. For example, some cement companies are now developing low-carbon cement that uses less clinker and more SCMs.
Capturing and storing carbon emissions: Carbon capture and storage (CCS) is a technology that can be used to capture carbon dioxide emissions from industrial processes and store them underground. CCS is a key technology for achieving net-zero emissions in the cement industry.
A number of cement companies are currently piloting and deploying CCS technologies. For example, HeidelbergCement is developing a CCS project at its Nordkalk plant in Finland. The project is expected to capture and store over 800,000 tonnes of CO2 per year once it is operational.
The geopolymer concrete market in India is in its early stages of development, but it is growing rapidly. The Indian government’s support for geopolymer concrete products is likely to boost the growth of the market in the coming years.

Geopolymer concrete products have a number of benefits over traditional concrete products, including a lower carbon footprint, increased durability, and improved performance. Geopolymer concrete products can be used in a wide range of applications, including construction, precast products, refractory materials, and soil stabilisation.
For example, FlyAsh Solutions and Geopolymer Solutions are developing and manufacturing geopolymer concrete products.
The Indian cement industry is taking steps to reduce its environmental impact and promote sustainable development. By adopting new technologies and investing in renewable energy, the Indian cement industry can play a leading role in driving global sustainability.

Driving Sustainability
Technology is playing a vital role in driving sustainability in the cement sector. Cement companies are investing heavily in new technologies to improve energy efficiency, reduce clinker content and capture and store carbon emissions.
In the face of growing demand, the cement industry is at a pivotal juncture where it must address environmental concerns associated with manufacturing, including reducing energy consumption, emissions, and increasing sustainability. The industry must emerge as a key contributor to creating a cleaner and greener future by leveraging innovation and technology to help India achieve its sustainable development goals more rapidly.

ABOUT THE AUTHOR:
Ujjwal Parwal, Director and Founder, RationalStat,
has over 10 years of industry experience in global market research and procurement intelligence. HE is a skilled market researcher and helps growth-driven organisations and entrepreneurs understand market entry prospects, and industry assessment, and grow their revenue strategically.

Concrete

Nuvoco Vistas Reports Record Q2 EBITDA, Expands Capacity to 35 MTPA

Cement Major Nuvoco Posts Rs 3.71 bn EBITDA in Q2 FY26

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Nuvoco Vistas Corp. Ltd., one of India’s leading building materials companies, has reported its highest-ever second-quarter consolidated EBITDA of Rs 3.71 billion for Q2 FY26, reflecting an 8% year-on-year revenue growth to Rs 24.58 billion. Cement sales volume stood at 4.3 MMT during the quarter, driven by robust demand and a rising share of premium products, which reached an all-time high of 44%.

The company continued its deleveraging journey, reducing like-to-like net debt by Rs 10.09 billion year-on-year to Rs 34.92 billion. Commenting on the performance, Jayakumar Krishnaswamy, Managing Director, said, “Despite macro headwinds, disciplined execution and focus on premiumisation helped us achieve record performance. We remain confident in our structural growth trajectory.”

Nuvoco’s capacity expansion plans remain on track, with refurbishment of the Vadraj Cement facility progressing towards operationalisation by Q3 FY27. In addition, the company’s 4 MTPA phased expansion in eastern India, expected between December 2025 and March 2027, will raise its total cement capacity to 35 MTPA by FY27.

Reinforcing its sustainability credentials, Nuvoco continues to lead the sector with one of the lowest carbon emission intensities at 453.8 kg CO? per tonne of cementitious material.

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Concrete

Jindal Stainless to Invest $150 Mn in Odisha Metal Recovery Plant

New Jajpur facility to double metal recovery capacity and cut emissions

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Jindal Stainless Limited has announced an investment of $150 million to build and operate a new wet milling plant in Jajpur, Odisha, aimed at doubling its capacity to recover metal from industrial waste. The project is being developed in partnership with Harsco Environmental under a 15-year agreement.

The facility will enable the recovery of valuable metals from slag and other waste materials, significantly improving resource efficiency and reducing environmental impact. The initiative aligns with Jindal Stainless’s sustainability roadmap, which focuses on circular economy practices and low-carbon operations.

In financial year 2025, the company reduced its carbon footprint by about 14 per cent through key decarbonisation initiatives, including commissioning India’s first green hydrogen plant for stainless steel production and setting up the country’s largest captive solar energy plant within a single industrial campus in Odisha.

Shares of Jindal Stainless rose 1.8 per cent to Rs 789.4 per share following the announcement, extending a 5 per cent gain over the past month.

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Concrete

Vedanta gets CCI Approval for Rs 17,000 MnJaiprakash buyout

Acquisition marks Vedanta’s expansion into cement, real estate, and infra

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Vedanta Limited has received approval from the Competition Commission of India (CCI) to acquire Jaiprakash Associates Limited (JAL) for approximately Rs 17,000 million under the Insolvency and Bankruptcy Code (IBC) process. The move marks Vedanta’s strategic expansion beyond its core mining and metals portfolio into cement, real estate, and infrastructure sectors.

Once the flagship of the Jaypee Group, JAL has faced severe financial distress with creditors’ claims exceeding Rs 59,000 million. Vedanta emerged as the preferred bidder in a competitive auction, outbidding the Adani Group with an overall offer of Rs 17,000 million, equivalent to Rs 12,505 million in net present value terms. The payment structure involves an upfront settlement of around Rs 3,800 million, followed by annual instalments of Rs 2,500–3,000 million over five years.

The National Asset Reconstruction Company Limited (NARCL), which acquired the group’s stressed loans from a State Bank of India-led consortium, now leads the creditor committee. Lenders are expected to take a haircut of around 71 per cent based on Vedanta’s offer. Despite approvals for other bidders, Vedanta’s proposal stood out as the most viable resolution plan, paving the way for the company’s diversification into new business verticals.

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