Economy & Market

Reliance arm to get license to set up cement unit in Himachal

Published

12 years ago

August 5, 2013

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At a recent cabinet meeting presided by Chief Minister Virbhadra Singh, the Himachal Pradesh government decided to grant licence to Reliance Cement to set up a cement plant based on limestone, shale and quartzite in Chopal tehsil of Shimla district.

During the meeting, it was also decided by the state government to issue show cause notice to four cement makers for delaying commissioning of five plants.

The notice would be issued to infrastructure conglomerate Jaiprakash Associates, French cement giant Lafarge India, Grasim Cements’s subsidiary Harish Cement and India Cement.

Jaiprakash Associate’s two proposed plants are in Solan and Chamba districts, while Lafarge’s and Harish’s plants are in Mandi district and the India Cement plant is in Shimla district.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/