Connect with us

Concrete

All hail the pro-infra Budget

Published

on

Rs 11.11 trillion for capital expenditure (capex) was one of the key highlights of the interim budget for the fiscal year 2024-25. It has led to the cement industry letting out a sigh of relief and continue with their upward trajectory of enhancing production capacity. The bolstering of infrastructure and housing schemes for the middle class, thanks to the Pradhan Mantri Awas Yojana (PMAY), cement companies are assured of increased demand.
We foresee a significant uptick in construction activities, leading to higher consumption of cement, which bodes well for the industry. Complementing this projected progress is the proposal to develop a dedicated railway corridor for cement transportation. This initiative is anticipated to enhance logistics efficiencies and promote multimodal connectivity, thereby reducing transportation costs and improving supply chain dynamics for cement manufacturers.
Amidst the warm response to the interim Budget, there is a wave of cold apprehension, too. Since 2024 is the election year, the political situation is likely to turn volatile, leading to long-lasting impact on the cement business. As the political drama unfolds, industry experts are holding their breath before announcing any major moves.
Looking at the bigger picture, India continues to be upbeat about consolidating its position as the second largest producer of cement in the world. The Indian cement sector has witnessed an addition of 119 mtpa capacity in the last five years, and is aiming for a capacity addition of 150-160 mtpa over the next five years. With the current production capacity at 595 mtpa, year 2024 is going to be a challenging one as we expect to see additional capacity of 70-75 mtpa in the country’s eastern and central parts, as per an assessment by Crisil.
While the interim Budget proved to be a wholesome one for the cement industry, it remains to be seen, how the cement players will take advantage of this opportunity.

Concrete

15th Cement EXPO to be held in March 2025 in Hyderabad

Published

on

By

Cement EXPO 2025, which will be held along with the 10th Indian Cement Review Conference and the 8th Indian Cement Review Awards, promises to be bigger, drawing in greater participation, fostering more profound discussions and showcasing the continued evolution of the cement industry.

Mumbai

After the arousing success of the 14th Cement EXPO, which was held on December 14-15, 2023 at Manekshaw Centre along the 9th Indian Cement Review Conference and the 7th Indian Cement Review Awards, the next edition of Cement EXPO will be hosted in March 2025 in Hyderabad. The 15th Cement EXPO promises to be bigger and even more impactful than 2023 edition with more participating companies and larger exhibition area. The 3-in-1 event is organised by FIRST Construction Council (an infrastructure think tank) and Indian Cement Review (ICR).

The 14th Cement EXPO received big thumps up from the industry with over 1,500 senior managers/decision makers visiting the expo. The EXPO was inaugurated by Dr Vibha Dhawan, Director General, TERI; and Ali Emir Adiguzel, Founder and Director, World Cement Association, along with Pratap Padode, Founder, FIRST Construction Council (FCC). Top notch companies from the Indian cement industry’s supply chain presented their latest innovations and offerings in the sprawling two-tiered exhibition space.

The 14th Cement EXPO garnered significant support from the Ministry of Road Transport and Highways, Government e-Marketplace (GeM), and the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India (GoI).

The 7th Indian Cement Review Awards presented awards to 11 companies in different categories recognising their contribution to growth and innovation in the industry. While Parth Jindal (Managing Director of JSW Cement) was conferred with the Indian Cement Review – Person of the Year Award 2023, Vinita Singhania (Vice Chairman and Managing Director at JK Lakshmi Cement Ltd) was presented with the prestigious Lifetime Achievement Award.

With a theme centred on ‘Driving Sustainability Through Technology’, the 9th Indian Cement Review Conference hosted thought provoking discussions, panel sessions, and presentations, showcasing the industry’s commitment to embracing cutting-edge solutions.

The success and resonance of the 2023 edition has laid the groundwork for the 15th Cement EXPO 2025, which is bound to be bigger, drawing in greater participation, fostering more profound discussions and showcasing the continued evolution of the cement industry.

The EXPO, along with the 10th Indian Cement Review Conference and the 8th Indian Cement Review Awards, will contribute significantly to the ongoing transformation of the cement industry.

Continue Reading

Concrete

Shree Cement breaks ground at two sites

Published

on

By

Shree Cement has recently commenced the construction of two new 3.5Mt/yr cement plants in Etah and Prayagraj, Uttar Pradesh, as per news reports. This development is in line with the company’s memorandum of understanding (MoU) with the Uttar Pradesh government, signed in February 2023. With the aim of achieving 9Mt/yr in installed capacity by February 2026, the company plans to invest an estimated US$241 million. Currently, Shree Cement operates a 2Mt/yr integrated cement plant in Bulandshahr.

Continue Reading

Concrete

JK Lakshmi Cement records hike in profits

Published

on

By

JK Lakshmi Cement announced a significant increase in standalone net profit, which jumped by 69 per cent to Rs.124.06 Crores in the Oct-Dec 2023 quarter. The company achieved a 7 per cent increase in standalone net sales and reported a clinker capacity utilisation of 105 per cent and cement capacity utilisation of 79 per cent in the same quarter. The company attributed its improved profitability to higher volume, better product and sales mix, and a reduction in fuel costs.
In terms of sustainability initiatives, the company is implementing projects to enhance its TSR and WHR capacity, as well as sourcing solar power to increase the share of renewable energy at its Durg Cement Plant. Additionally, the company’s subsidiary, Udaipur Cement Works Ltd (UCWL), successfully commissioned its second clinker line and is expected to commission its cement grinding capacity expansion soon.
The company is also undertaking expansion projects, including increasing clinker capacity and establishing cement grinding units at various locations, with a proposed investment of Rs.2,500 crores. Funding for this project is proposed to be through term loans from banks and internal accruals. The company also announced an interim dividend of 40 per cent.

Continue Reading

Trending News

SUBSCRIBE TO THE NEWSLETTER

 

Don't miss out on valuable insights and opportunities to connect with like minded professionals.

 


    This will close in 0 seconds