Newsbytes from India’s growing cement sector

JK Cement

JK Cement has begun production and dispatch from its new cement plant in Mangrol in Rajasthan. The new plant has a capacity of 1.5 million tpa. The company has also informed the stock exchange that Shri Ashok Sharma has resigned his directorship of the company.

Reliance Infrastructure

Reliance Infrastructure has announced plans to triple its cement production capacity from the current 5.8 million tpa to 15 million tpa over the next three years. The company is planning to set up new plants in MP and Maharashtra. With the recent government decision to build new roads from concrete instead of bitumen, the company is expecting additional cement demand requiring new cement capacity of nearly 40 million tpa. Chairman Anil Ambani confirmed at the recent AGM that the company ‘will be selectively participating in road projects’.

Core sector growth

Core sector growth in India grew by 5.8% in August, following a 2.7% rise in July. Cumulative growth from April – August stood at 4.4%. The growth was largely driven by the improved performance of the coal and steel sectors, achieving 13.4% and 9.1%, respectively. Cement production also grew at a rate of 10.3%.

Edited from various sources by Katherine Guenioui

Sources:

• Economic Times
• The Hindu Business Line
• Business Standard
• Financial Express
• Indian Express
• The Hindu Business Line

Read the article online at: https://www.worldcement.com/asia-pacific-rim/01102014/newsbytes-from-india-growing-cement-sector-588/