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Penna Cement Industries files DRHP to raise Rs 1,550 crore via IPO

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Cement producer Penna Cement has filed its draft red herring prospectus with the Securities and Exchange Board of India for an IPO worth Rs 1,550 crore.

The public issue comprises a fresh issue of shares worth Rs 1,300 crore and an offer-for-sale by promoters, PR Cement Holdings Ltd of up to Rs 2,500 crore. The company has planned to utilise the net proceeds for repayment of Rs 550 crore of certain borrowings availed by the company– funding capital expenditure requirements of Rs 105 crore for its Krishnapatnam line II (KP Line II) project, Rs 80 crore towards upgrading its raw grinding and cement mill in Talaricheruvu, Rs 110 crore towards setting up a waste heat recovery plant in Tandur, and Rs 130 crore for setting up Talaricheruvu WHR plant.

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Concrete

thyssenkrupp Polysius, SaltX partner for electrified production

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thyssenkrupp Polysius and Swedish startup SaltX have signed a Letter of Intent (LOI) to co-develop the next generation of electrified production facilities, advancing industrial decarbonisation. Their collaboration will integrate SaltX’s patented Electric Arc Calciner (EAC) technology into thyssenkrupp Polysius’ green system solutions, enabling electric calcination, replacing fossil fuels with renewable energy, and capturing CO2 for emission-free production. Dr Luc Rudowski, Head of Innovation, thyssenkrupp Polysius, emphasised that this partnership expands their portfolio of sustainable solutions, particularly in cement, lime, and Direct-Air-Capture (DAC). Lina Jorheden, CEO, SaltX, highlighted the significant CO2 reduction potential, reinforcing their commitment to sustainable industrial processes.

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Terra CO2 secures $82m to scale low-carbon cement technology

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Terra CO2, a US-based sustainable building materials company, has raised $82 million in Series B funding, co-led by Just Climate, Eagle Materials and GenZero, with continued support from Breakthrough Energy Ventures. The investment will accelerate the commercial deployment of Terra’s OPUS technology, enabling the construction of multiple production facilities across North America and Europe. With the cement industry responsible for 8 per cent of global CO2 emissions, Terra’s solution provides an immediate, scalable alternative using abundant raw materials that integrate seamlessly with existing infrastructure. The company has secured key partnerships, including a deal with Eagle Materials for multiple 240,000-tonne plants.

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Titan Cement Group enters South Asia

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Titan Cement Group has expanded into the South Asian market through a joint venture with JAYCEE, an India-based producer of supplementary cementitious materials. Titan will hold a majority stake in the newly formed company, Atlas EcoSolutions, which will focus on sourcing, processing, marketing, and distributing SCMs globally. This initiative aims to support sustainable construction by promoting alternatives to clinker-based cement. Jean-Philippe Benard, Head of Supply Chain and Energy Development, emphasised that the venture aligns with Titan’s strategy to lead in low-carbon building materials while reinforcing its commitment to sustainability and innovation. The move strengthens Titan’s position in a high-growth market while ensuring long-term access to SCMs.

 

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