Concrete

JSW in talks with PE firm to join Holcim cement operations

JSW Group is open to fundraising over Rs 18k cr from PE group

Published

4 years ago

April 22, 2022

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JSW Group has started a discussion with a private equity company (PE), Carlyle, to join forces and support an offer for Indian Holcim cement operations.

Holcim Group put its arm registered in Ambuja Cement, and ACC Cement sold as part of a global strategy to focus on the core market.

JSW is fundraising Rs 18,750 crore from the PE group as a consortium.

More than one PE group will likely work and bid together with JSW Group.

Apollo Global Management and Synergy Metals Holdings Investasi are the two investors in JSW Cement. Both the companies invested Rs 1,500 crore in July 2021 to accelerate the expansion of their current capacity of 14 million tonnes per year (mtpa) up to 25 mtpa in 2023 on the capex of Rs 3,600 crore.

Along with PE discussions, a $13 billion steel-to-renewables group is also in discussions with global bank clutches for supported financing.

JSW Steel has around Rs 15,000 crore cash as of September 2021, while JSW energy is Rs 754 crore. It further amounted to Rs 136 crore for JSW cement which was not registered at the end of March 2021.

Earlier, JSW Cement had similar support from Bain Capital and CVC Capital Partners for the final round of negotiations to acquire the India Lafarge 11 mtpa portfolio. It was finally outbid by NIRSA.

Other major funds, including Blackstone, Advent International, CVC Capital and Bain, and global sovereign funds, can be approached due to past connections, trends for traditional economic companies and global industrial sector investments.

Another obstacle will be the approval of competition commissions for companies like Ultratech Cement because together with Ambuja and ACC can achieve the dominant market share, and there will be an intense offer for this valuable asset.

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Concrete

Cement Prices Likely to Rise Rs. 10-15 per Bag from Mid-October

Input costs and steady demand may drive cement price increases

Published

3 days ago

October 14, 2026

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Cement manufacturers in India are likely to raise prices by Rs. 10-15 per bag from mid-October, as they seek to offset persistent increases in power and fuel costs. Emkay Research said its channel checks indicated a high probability of an increase from October 12, supported by the start of the busy construction season and favourable demand-supply conditions.

The sector had implemented similar rate adjustments of Rs. 10-15 per bag during the first quarter, but the increases were insufficient to cover higher operating costs. Prices also softened during July and August because of the monsoon, widening the gap between realisations and input expenses. Delayed plant expansion programmes have pushed clinker utilisation rates towards 79 per cent by FY28, helping to balance market fundamentals.

Emkay Research said steady volume offtake was supporting cement consumption, with non-trade demand driving activity across regional markets. Industry volumes are expected to grow by 7-8 per cent year on year during the first half of FY27, while demand momentum is projected to remain firm over the following 18 months. The outlook includes the busy construction season in the second half of FY27 and infrastructure activity linked to general elections in the first half of calendar year 2029.

The brokerage expects overall cement demand to record a compound annual growth rate of about 7 per cent between FY26 and FY28. However, elevated operating expenses are likely to continue weighing on profitability. Input costs have risen by Rs. 300-400 per t over the past six to seven months, with the full impact expected to become visible in second-quarter earnings and remain persistent through the second half of FY27.

Spot prices for petcoke and imported coal are approximately 20 per cent and 16 per cent above their second-quarter averages, at USD 175 per t and USD 150 per t, respectively. Packing costs have also increased, with polypropylene granule prices rising above Rs. 135 per kg. Emkay Research estimated that second-quarter earnings could decline by Rs. 200-250 per t sequentially because of higher fuel bills and negative operating leverage, and said the sector requires sustained price increases of about Rs. 10 per bag to offset cost inflation.

Concrete

Nuvoco Marks 10 Years, Targets 35 MMTPA Capacity by FY28

Nuvoco celebrates a decade of growth, targeting 35 MMTPA cement capacity by FY28.

Published

4 days ago

October 13, 2026

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Nuvoco Vistas Corporation Limited is celebrating a decade of operations under the theme ‘Dus Saal Bemisaal’, highlighting its expansion in India’s building materials sector. The company has grown from a single cement manufacturing facility into a diversified organisation operating across cement, ready-mix concrete (RMC) and modern building materials.

The company’s journey began in 2014 when its parent, Nirma Group, commissioned a 2 million metric tonnes per annum (MMTPA) greenfield cement plant at Nimbol, Rajasthan. A major milestone followed in October 2016 with the acquisition of Lafarge India, significantly expanding its manufacturing footprint.

Nuvoco strengthened its market presence through the acquisition of Emami Cement, now NU Vista Limited, in 2020, followed by its public listing in 2021. In April 2025, the company added Vadraj Cement to its portfolio, strengthening its presence in western India.

Nuvoco has an operating cement capacity of 27 MMTPA and 14 manufacturing units, including the Kutch and Sachana facilities in Gujarat, which are in advanced stages of completion. It also operates 58 ready-mix concrete plants across India and offers a range of modern building materials.

The company aims to increase its cement capacity to 35 MMTPA by FY2027-28, representing approximately 15-fold growth over the decade.

Reflecting on the milestone, Hiren Patel, Chairman, Nuvoco Vistas Corporation Limited, said, “From our beginnings at Nimbol to the organisation we are today, every milestone has added a new chapter to Nuvoco’s journey and strengthened our belief in building for the long term.”

The company continues to focus on capacity expansion, operational efficiency, innovation and sustainability while strengthening its position in India’s construction materials market.

Concrete

J&K Government Notifies City Gas Distribution Policy

Policy targets PNG and CNG expansion across all 20 districts

Published

4 days ago

October 13, 2026

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Jammu and Kashmir government has notified the City Gas Distribution (CGD) Policy, 2026, following its approval by the Council of Ministers headed by Chief Minister Omar Abdullah. The policy sets out a phased framework for expanding Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) access for households, businesses, industries and the transport sector across the Union Territory.

CGD networks will be expanded in phases across all 20 districts, with the aim of bringing reliable natural gas closer to consumers and supporting a gradual shift from conventional fuels. The government said the policy is designed to improve energy access while creating an investor-friendly and time-bound environment for gas distribution projects.

The policy provides for single-window and time-bound clearances, streamlined procedures for setting up CNG stations and standardised norms for the Right of Way. These measures are intended to reduce procedural delays, simplify project implementation and facilitate investment in natural gas infrastructure.

It also prioritises gas connectivity for major industrial estates, including those in Kathua, Samba and Pulwama. Improved access to natural gas is expected to support industrial activity, enhance energy efficiency and help businesses manage fuel costs, while strengthening their competitiveness and encouraging investment in the clean-energy sector.

The policy is also expected to create opportunities for local employment, apprenticeships and skill development in the construction, operation and maintenance of gas distribution networks and related services. Abdullah described the measure as an important step towards cleaner growth, sustainable development and a modern energy ecosystem in Jammu and Kashmir, saying it would expand reliable energy access and support industry and investment.