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Indian Cement Review: Person of the Year 2023

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Parth Jindal, the dynamic Managing Director of JSW Cement, has rightfully received the Indian Cement Review – Person of the Year Award. JSW Cement, currently a
$600 million organisation with a capacity of 17 MTPA is slated to reach 25 MTPA by 2024, under Jindal’s stewardship. An MBA from Harvard Business School (2016) and a Bachelor of Arts in Economics and Political Science from Brown University (2012), he worked abroad for two years – first with a hedge fund in New York, and then with JFE Steel in Japan (JSW Steel’s JV Partners), before he joined the $23 billion JSW Group in 2012.
He is also Managing Director-JSW Paints (established in May 2019), Director-JSW Energy, and Director-JSW Ventures and JSW USA.
Passionate about sports, he founded JSW Sports, that owns and manages ISL 2018-19 Champions Bengaluru FC and Pro-Kabaddi League team Haryana Steelers; and he is Chairman and Co-Owner of Delhi Capitals. He is also the Founder of the Inspire Institute of Sport, a visionary project aimed at enhancing India’s Olympic calibre. Under his leadership, JSW Sports received the ‘Rashtriya Khel Protsahan Puruskar 2018’ from the President of India for its contribution to sports through corporate social responsibility.
Parth Jindal has been recognised as the youngest business leader on the ‘2019 Economic Times 40 under Forty’ list, one of GQ’s ‘50 Most Influential Young Indians for 2018’, and was honoured by News24 as the 2018 Youth Icon for his contribution to the nation. As Director of Bengaluru FC, Parth was elected unopposed as Vice-President of the Western India Football Association.
Under his visionary leadership, JSW Cement is poised to soar to greater heights, showcasing Jindal’s remarkable stewardship and strategic acumen.

Concrete

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

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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.

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Concrete

Shree Cement breaks ground at two sites

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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.

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JK Lakshmi Cement records hike in profits

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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.

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