Finance Ministry Budget 2013’s first and foremost priority is to avoid ratings downgrade
RBI Governor Investments needed for growth. Government has to spend on capital expenditure & infrastructure.
Amravati: Reliance Cement Company Pvt Ltd, wholly owned subsidiary of Reliance Infrastructure Ltd (RInfra), has commercially launched into Amravati market in Maharashtra. The cement will be produced at the company’s Butibori plant at Maharashtra. A strong channel network has been set-up to service the retail customers of Amravati. The company further plans to venture into [...]
Mumbai: UltraTech Cement has resumed production at Awarpur plant in Maharashtra after 15 days of shut down owing to labour strikes. UltraTech Cement informed investors that the operation at Awarpur Cement Works has resumed production from March 14. The plant was shut on March 1 due to labour strike. However, the company has not detailed [...]
New Delhi: The increase in freight rates by the Union Rail Minister Shri Pawan Bansal in the Rail Budget is likely to impact the cement prices. The 5.79% hike in freight charges will increase cement prices by Rs7 per bag of 50 kg, states an analyst. According to HM Bangur, Managing Director, Shree Cements, with [...]
Mumbai: German based Heidelberg Cement has commissioned Phase-I of its Jhansi grinding unit. The company currently executing its Rs1,400 crore expansion plan through the recent initiative has escalated the capacity of its unit to 2.7 million tonnes. The unit earlier had a capacity of 0.8 million tonnes, wherein the commissioning of the new mill is [...]
Gulbarga: Sugar Cements Ltd has commenced production from the Phase-I of the new cement plant in Karnataka. The plant is run through a joint venture with France based Vicat group. The unit located at Karnataka’s Chatrasala village in Gulbarga district has a potential capacity of 2.75 million tonnes has started its commercial production. The company [...]
Howrah: Aiming towards capacity expansion, Ambuja Cements Ltd plans to shed a Rs2,000 crore investment for a project in Rajasthan and northern regions. The project to be developed in Rajasthan is expected to add five million tonne capacity to the company’s total production. However, the company refrained from disclosing any timeframe for the project execution. [...]
Mumbai: French cement major, Lafarge SA plans to sell 20-25% stake in its Indian unit for about $300 million. The company is already in talks with private equity and financial firms to execute the said operation, informs two senior officials from the company. As per the official sources, the company has already contacted a slew [...]
Mumbai: India Cements Ltd registered a fall of 30% in its net profit for the quarter ended September 2012.As per the recent performance index, the company’s net profit stood at Rs49.08 crore against Rs69.71 crore gained in the same period a year ago. The company outlines the increased input costs over the power and fuel supply as [...]
NEW DELHI: The Competition Appellate Tribunal (COMPAT) today asked fair trade regulator CCI to give fresh copies of its order levying over Rs 6,300 crore in penalties on 11 cement companies for cartelization, providing them with complete details on production, pricing and sales. The companies, which include UltraTech and ACC, have been asked to file [...]
Mumbai: Reliance Infrastructure Limited (RInfra), part of the Reliance Group, through its subsidiary Reliance Cement Company Private Limited (RCC), announced the launch of its first cement under the brand name ‘Reliance Cement’. Reliance Cement is a new-age Portland Pozzollona Cement, manufactured in its recently commissioned Butibori plant at Maharashtra and will mainly be delivered to [...]
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