Recently, Heidelberg, Germany, signed an agreement with Indorama Cement Company, India, to announce the establishment of a joint venture, each holding 50% of the shares. The joint venture includes an Indorama mill near Mumbai.
This cooperation is an important first step for Heidelberg to occupy a long-term market in India. Over the past 10 years, cement consumption in India has grown at an annual rate of 7.5%. Last year, India's total cement consumption was 135 million tons, making it the world's second largest cement consumer after China. However, per capita consumption is only 125 kg, one of the lowest in Asia, and is expected to grow at an average rate of 8-9% in the next few years.
"The cement grinding plant is our entry point into the Indian market," said HeidelbergCement President Dr. Bernd Scheifele. "Step by step, we will expand our business scope in this market with great potential. The joint venture is also our strategic investment in the Indian market."
Indorama Cement was established in 2000 with an annual production capacity of 750,000 tons and excellent technical conditions. It has a large market in Mumbai and the surrounding areas of Pune. Indorama Cement is the only producer of high quality slag cement in the Mumbai market and also has a cement cargo terminal in Mumbai.
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