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Traceability is foundational to circularity

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Uttam Sur, Chief Sustainability and Security Officer, Valency International Pte, discusses cross-border collaboration and innovation essential to scaling sustainable solutions.

As the cement industry accelerates its transition toward low-carbon growth, global commodity trading and cross-border collaboration are emerging as powerful enablers of circular economy practices. Uttam Sur, Chief Sustainability and Security Officer, Valency International Pte, talks about how trading expertise, supply chain traceability, and innovative partnerships are reshaping the sector’s resource loop while aligning with ESG imperatives.

How can global commodity trading expertise support circular economy adoption in cement?
Global commodity trading brings deep market intelligence, logistical efficiency, and access to alternative raw materials. By leveraging trading networks, cement companies can source industrial by-products like fly ash, slag and alternative fuels, which are critical to circular practices. Traders also help navigate regulatory landscapes and ensure consistent quality and supply, enabling cement producers to integrate circular inputs without compromising performance.

What role can supply chain traceability play in enabling circular practices in the sector?
Traceability is foundational to circularity. It ensures that materials—whether recycled, reclaimed or sustainably sourced—meet environmental and social standards. Digital traceability tools allow cement companies to track the origin, lifecycle and carbon footprint of inputs, which supports compliance, transparency and ESG reporting. This also builds trust with stakeholders and enables data-driven decisions for sustainable sourcing.

How can cement companies collaborate with traders to source sustainable raw materials?
Collaboration begins with shared sustainability goals. Cement companies can work with traders to identify low-carbon alternatives, co-develop supplier standards and invest in pre-processing infrastructure. Long-term partnerships can unlock access to circular materials like biomass, construction waste and industrial residues, while also ensuring traceability and quality control across borders.

What lessons from ESG risk mitigation in commodities can be applied to cement operations?
Commodity sectors have advanced ESG risk frameworks that cement companies can adopt—such as supplier audits, grievance mechanisms and third-party certifications. These practices help identify risks related to labour, environment and governance early in the supply chain. Cement operations can benefit by embedding these controls into procurement, logistics and community engagement strategies.

How important is cross-border collaboration for scaling circular economy solutions in cement?
Extremely important. Circular inputs often originate from diverse geographies—industrial
by-products, waste-derived fuels and recycled aggregates are not always locally available. Cross-border collaboration enables access to thes ematerials, harmonises standards and fosters innovation. It also supports policy alignment and investment in shared infrastructure, which is vital for scaling circular solutions.

What are the biggest challenges in aligning cement’s circular initiatives with global ESG standards?
Key challenges include fragmented regulations, inconsistent data and limited supplier capacity. Many circular materials lack standardised ESG metrics, making it difficult to assess their impact. Additionally, aligning local practices with global frameworks like GRI, SASB or TCFD requires capacity building and digital transformation across the value chain.

How can stakeholder engagement across 20+ countries drive innovation in cement circularity?
Engaging stakeholders globally brings diverse perspectives, technologies and policy insights. It enables co-creation of solutions tailored to local contexts—whether it’s waste valorisation in Africa, carbon capture in Europe, or green logistics in Asia. Multi-country engagement also fosters knowledge exchange, accelerates pilot projects and builds resilient supply chains for circular materials.

Which emerging materials or technologies could reshape the resource loop in cement production?
Several innovative materials and technologies are poised to transform the resource loop in
cement manufacturing:
• Carbonated aggregates produced using captured CO2 offer a dual benefit—reducing emissions and enhancing material performance.
• Alkali-activated binders present a low-carbon alternative to traditional cement, utilising industrial by-products like fly ash and slag.
• AI-powered waste sorting systems enable efficient recovery and reuse of high-quality recycled inputs, minimising landfill dependency.
• Blockchain-based traceability platforms ensure transparency and accountability across circular supply chains.

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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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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