Economy & Market

All hail the pro-infra Budget

Published

2 years ago

February 15, 2024

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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.

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WCA Welcomes SiloConnect as associate corporate member

Published

5 days ago

April 13, 2026

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The World Cement Association (WCA) has announced SiloConnect as its newest associate corporate member, expanding its network of technology providers supporting digitalisation in the cement industry. SiloConnect offers smart sensor technology that provides real-time visibility of cement inventory levels at customer silos, enabling producers to monitor stock remotely and plan deliveries more efficiently. The solution helps companies move from reactive to proactive logistics, improving delivery planning, operational efficiency and safety by reducing manual inspections. The technology is already used by major cement producers such as Holcim, Cemex and Heidelberg Materials and is deployed across more than 30 countries worldwide.

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TotalEnergies and Holcim Launch Floating Solar Plant in Belgium

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5 days ago

April 13, 2026

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TotalEnergies and Holcim have commissioned a floating solar power plant in Obourg, Belgium, built on a rehabilitated former chalk quarry that has been converted into a lake. The project has a generation capacity of 31 MW and produces around 30 GWh of renewable electricity annually, which will be used to power Holcim’s nearby industrial operations. The project is currently the largest floating solar installation in Europe dedicated entirely to industrial self-consumption. To ensure minimal impact on the surrounding landscape, more than 700 metres of horizontal directional drilling were used to connect the solar installation to the electrical substation. The project reflects ongoing collaboration between the two companies to support industrial decarbonisation through renewable energy solutions and innovative infrastructure development.

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Cortec® Corporation applauded for its strong safety performance

Published

5 days ago

April 13, 2026

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Cortec® Corporation has been recognised for its strong safety performance, receiving its sixth Governor’s Workplace Safety Award for its outstanding performance in 2025. As a Silver Achievement recipient, the company continues to maintain safety metrics well above national industry averages, an impressive accomplishment for a chemical manufacturing organisation. This achievement reflects Cortec’s proactive approach to workplace safety, focused on early hazard detection and employee involvement. The company will be formally recognised at the Minnesota Safety and Health Conference in May, highlighting how industrial companies are effectively strengthening workplace safety standards.