Concrete

Nuvoco strong core values

Published

5 years ago

January 9, 2020

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Nuvoco Vistas is a leading manufacturer and retailer of building materials in India, offering a diversified business portfolio under three broad business segments, namely, cement, ready-mix concrete (RMX) that enjoys a pan-India presence, and modern building materials (MBM).

Guided by one of the core values, care; Nuvoco has always made a responsible and sustainable contribution to the society in which it operates to ensure a safe and healthy environment for all its stakeholders. Nuvoco’s corporate social responsibility initiatives focus on five themes; namely, Surakshit Bharat (safety), Swasth Bharat (health), Shikshit Bharat (education), Saksham Bharat (livelihood) and Sanrachit Bharat (infrastructure development) through which we have reached out to 1,98,000 people across 103 villages.

Surakshit Bharat (safety): Keeping safety at the heart of all that we do, through this initiative, we are able to build awareness on safety (on the road and at home) and endeavours to stimulate behavioural change in the communities living in the close proximity of our operating units. We also extend support towards building a safer world while addressing issues like waste management in the villages and promoting the ban of single-use plastic while showcasing its harmful effects on the environment.

Swasth Bharat (health): Focus is to provide access to primary health care, improved sanitation and safe drinking water to the communities and addressing the needs of adolescent girls. Under the flagship program, project Angan we have adopted more than 170 Anganwadis across locations that promotes joyful learning for children and improving overall service delivery of Anganwadis especially focusing on mother and child health. Continuing our focus, Swasth Matritva is another such project where we have provided mobile ante-natal care (ANC) check-up kits integrated with a mobile app to the government health workers in rural areas. Through this kit, they were able to conduct regular ANC checkups, even during COVID-19 times, and thus contributing towards safe motherhood. We have also helped form girls health groups focusing on adolescent girls; one of its major activities is to promote the use of sanitary pads to maintain hygiene during menstruation. We have also been able to provide preventive healthcare facilities, free medical and health check-up camps and spread awareness on WASH (water sanitation and hygiene) in schools.

Shikshit Bharat (education): The focus of this initiative, is to provide access to new-age education facilities in government schools to improve the quality of education. We have been supporting approx 50 government school across locations by installing smart classes and providing better infrastructure facilities and special health care facilities for girls (construction of toilets and installation of sanitary pad dispenser and incinerator in girls toilet, etc.) in schools. Through our project Shikshit Sunderhattu (winner of FICCI CSR Jury Award 2018-19 for education) in Jamshedpur, we were able to establish "Birsa Prathmik Vidyalaya" through community participation and educate the tribal children of the Sunderhattu and Sarenbera villages, which have shaped the lives of more than 500 tribal children by bringing them into mainstream education.

Saksham Bharat (livelihood): This initiative focuses on diversifying livelihood by imparting new skills to the youth and women to enable them to become self-reliant. Projects like Aakriti (a women enterprise for garment manufacturing) and Samridhi (women group-led initiative for mushroom cultivation) have helped to accelerate progress towards the economic empowerment of rural women. These projects were also awarded FICCI CSR Awards – 2016 and 2017, respectively. Project Aakriti transformed itself from a training center to a garment manufacturing centre with turnover of more than 35 lakh per annum and supporting livelihood of more than 500 women across locations. While Project Smariddhi in West Bengal is providing additional livelihood support to more than 100 women members. Other skill development programs like computer training, bag making, food processing are also some of the initiatives looked upon.

Sanrachit Bharat (infrastructure development): Through this initiative, we have been working towards improving the quality of life by developing community infrastructure through the construction and repair of roads and providing safe drinking water through pond distillation and rainwater harvesting. We were also able to refurbish the school buildings, build community centers, improve drainage systems in villages and conduct tree plantations in communities and villages where we operate.

While the world was grappling with a situation that off-guarded everyone and pervaded every facet of our lives; Nuvoco ensured that all its stakeholders, not limited to its employees were safe and secure. Our employees came forward to support the channel partners (dealers and sub-dealers) and the local communities by contributing a day’s salary. Plant teams and their families came ahead to support the nearby villages by producing and distributing face masks, food packets, and other essential services. Nuvocans’ combined were able to distribute approximately 12,000 safety kits comprising of N95 mask, cotton mask, face shield and temperature scanners in the east and north markets and to the local district administration across locations. They also supported in installing approximately 750 hand wash stations (a foot-operated washbasin developed in-house that enables people to avoid handling taps or soap dispensers) at public places in Jharkhand, Bengal and Chhattisgarh markets and donated a ventilator machine at the government hospital in Janjgir Champa district of Chhattisgarh.

Footnote:

ABOUT THE AUTHOR: Joydeep Chatterjee, Chief of CSR & Corporate Affairs at Nuvoco.

Concrete

JK Cement marks 140 years of innovation and leadership

JK is one of India’s leading manufacturers of Grey Cement in India

Published

2 days ago

September 17, 2024

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JK Cement Ltd. a leading building material company, one of India’s leading manufacturers of Grey Cement in India and one of the largest White Cement manufacturers in the world, celebrated 140 years of JK Organisation’s remarkable legacy at a grand event in the capital. The event honoured the group’s rich history, its significant contributions to multiple sectors of the Indian economy, and the unwavering dedication of its employees and partners.

The celebration gathered dignitaries, industry leaders, employees, and key stakeholders to reflect on JK Organisation’s journey from its inception to its present status as a global leader. Lieutenant Governor of New Delhi, VK Saxena, who himself started his career at JK Cement, along with Rajeev Shukla, Member of Rajya Sabha, graced the occasion. Key leaders of the JK Organisation, including Dr. Nidhipati Singhania, Vice President, JK Organisation, Dr. Raghavpat Singhania, Managing Director, JK Cement, and Madhavkrishna Singhania, Joint MD and CEO, JK Cement, were present to mark this significant milestone.

CEO’s from various known business houses both Indian and Multinational companies across sectors graced the occasion.

Reflecting on the organization’s journey, Dr. Nidhipati Singhania, Vice President, JK Organisation, said, “As we celebrate 140 years of JK Organisation, we are filled with immense pride and gratitude for our legacy, which is rooted in values of innovation, quality, and service to the nation. Our journey has been as much about business success as about driving positive change in the communities and industries we serve. The milestones we have achieved reflect our continuous efforts in advancing India’s infrastructure and industrial landscape.”

One of the key highlights of the evening was the recognising the long-serving employees and partners who have dedicated decades to JKCement. Their enduring loyalty underscores JK Organisation’s foundational values of trust and collaboration, which have been pivotal to the organisation’s success.

Addressing the guests at the event, Dr. Raghavpat Singhania, Managing Director, JK Cement, said, “This year along with the 140 years milestone, also marks two significant milestones for us: 50 years of grey cement business and 40 years of white cement business, affirming our leadership in the industry. Our recent expansion into coal mining underscores our commitment to vertical integration and sustainable resource management. We are dedicated to not only adapting to the evolving landscape but also driving positive change and creating lasting value for all our stakeholders and the nation.”

Emphasising the company’s commitment to innovation and progress, Madhavkrishna Singhania, Joint MD and CEO, JK Cement, said, “Our journey has been marked by resilience, adaptability, and a constant drive to exceed expectations. We’re committed to leveraging cutting-edge technology and sustainable practices to not only maintain our market leadership but also to contribute significantly to India’s progress. The trust of our stakeholders and the dedication of our team members have been instrumental in our success, and they will continue to be the pillars of our future endeavors.”

The event celebrated JK Organisation’s visionary outlook, showcasing its commitment to sustainable growth, technological innovation, and its influential role in driving India’s economic advancement.

VK Saxena, Lieutenant Governor, New Delhi, who was invited as the Chief Guest said “It’s an honour for me to be part of this landmark celebration for a company where I started my career as an Assistant Officer in Gotan, Rajasthan and worked for 11 years in different capacities with its White Cement plant. This exposure gave me insights of a corporate working, faster decision making and team work, which has helped me throughout my various stints thereafter. I wish all the best to JK Cement for all their Future endeavors in Nation Building”

Concrete

Steel Ministry Proposes Rs.23.52 Lakh Crore for Decarbonisation

Steel Ministry unveils massive decarbonisation plan.

Published

3 days ago

September 16, 2024

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Decarbonisation Proposal:
The Steel Ministry has outlined a substantial Rs.23.52 lakh crore proposal aimed at decarbonising the steel industry. This initiative is part of the broader sustainability and environmental goals set by the Indian government.

Objective and Goals:
The primary objective of the proposal is to reduce carbon emissions significantly and enhance the environmental performance of the steel sector. This aligns with India’s commitment to climate action and green growth.

Investment Focus:
The proposal will channel funds into advanced technologies, energy-efficient processes, and renewable energy sources. Key areas of investment include electrification, hydrogen-based steelmaking, and carbon capture technologies.

Expected Benefits:
Implementing this plan is expected to lead to major reductions in carbon emissions, improve air quality, and contribute to sustainable development. It will also bolster India’s position as a global leader in green steel production.

Industry Impact:
The steel industry, being a major emitter of greenhouse gases, will undergo a transformation. This shift will require industry-wide adaptation and could influence global steel market trends.

Government Support:
The Indian government is committed to providing policy support, incentives, and regulatory frameworks to facilitate this transition. This includes subsidies for green technologies and research and development funding.

Timeline and Phases:
The implementation will be carried out in phases over the coming years. Short-term goals will focus on immediate emission reductions, while long-term goals will target more comprehensive technological advancements.

Stakeholder Involvement:
Collaboration with industry stakeholders, technology providers, and research institutions will be crucial. Engagement with local communities and environmental groups will also play a role in ensuring the success of the proposal.

Challenges:
The initiative may face challenges such as high costs, technological barriers, and regulatory hurdles. Addressing these challenges will be essential for the successful execution of the decarbonisation plan.

Future Outlook:
The proposal positions India as a key player in the global movement towards sustainable steel production. It sets a precedent for other sectors to follow and supports the country’s broader climate goals.

Conclusion:
The Steel Ministry’s proposal for a Rs.23.52 lakh crore decarbonisation plan represents a significant step towards reducing carbon emissions in the steel industry. With substantial investment in green technologies and strong government support, this initiative aims to drive sustainable growth and position India as a leader in environmental stewardship.

Concrete

New home prices in China fall 5.3% in August 2024

New home prices were down 5.3% from a year earlier.

Published

3 days ago

September 16, 2024

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Official data revealed that China’s new home prices had fallen at their fastest rate in over nine years in August, as supportive measures failed to induce a significant recovery in the property sector. The data showed that new home prices were down 5.3% compared to the previous year, marking the sharpest decline since May 2015, compared to a 4.9% drop in July, based on calculations by Reuters from National Bureau of Statistics (NBS) data. Monthly figures indicated that new home prices had fallen for the fourteenth consecutive month, decreasing by 0.7%, which was the same drop recorded in July.

The property market in China continues to struggle with deeply indebted developers, incomplete apartments, and declining buyer confidence, which is putting a strain on the financial system and threatening the 5% economic growth target for the year. A Reuters poll had forecast that home prices in China would decline by 8.5% in 2024 and by 3.9% in 2025 as the sector struggles to stabilise.

Zhang Dawei, chief analyst at property agency Centaline, mentioned that the property market is still gradually bottoming out, with home buyers’ demand, income, and confidence expected to take some time to recover. He noted that the market was anticipating a stronger policy response. According to the official data released on Saturday, property investment had fallen by 10.2% and home sales had dropped by 18.0% year-on-year in the first eight months of the year.

Chinese policymakers have stepped up efforts to support the property sector, including reducing mortgage rates and lowering home buying costs. These measures have partially revitalised demand in major cities, while smaller cities, which have fewer home purchase restrictions and high levels of unsold inventory, are particularly vulnerable. This situation underscores the difficulties faced by authorities in balancing demand and supply across different regions.

In a research note on Friday, Nomura indicated that with the growth slowdown worsening under new headwinds in the second half of the year, Beijing might eventually need to step in as the “builder of last resort” by directly providing funding to delayed residential projects that have already been pre-sold. According to Bloomberg News, China may cut interest rates on over $5 trillion in outstanding mortgages as early as this month.

To support these mortgage rate cuts, economists at ANZ suggested that a reduction in the five-year Loan Prime Rate was likely in September, along with a 20 basis point cut to the medium-term lending facility (MLF) and a 50 basis point cut to the reserve requirement ratio (RRR).