• India: Jaiprakash to sell Jaypee Bhilai plant stake to Shree Cement

    India: In an attempt to service its US$5.99bn debt, Jaiprakash Associates has signed an agreement with Shree Cement to divest its stake in the 2.1Mt/yr Bhilai Jaypee Cement plant for an enterprise value of US$314 – 329m. Jaiprakash Associates is finding it difficult to service i

  • Pakistan:Lucky Cement wins quality standard award

    Pakistan: Lucky Cement Limited has received the Quality Standard Award 2015. The awards were held by The Consumers Eye Pakistan (TCEP) to encourage local manufacturers that are maintaining quality standards and have ISO/PSQCA certification in manufacturing standardised products.

  • India:Lafarge plans to exit India operations

    India: Lafarge India has submitted a revised proposal to the Competition Commission of India (CCI) to sell its entire 11Mt/yr assets in India. The decision comes after the company's plan to sell its 5.15Mt/yr cement capacity in Chhattisgarh and Jharkhand to Birla Corporation for

  • Saudi:Estanda completes cement ball mill commissioning

    Saudi Arabia: Estanda has successfully completed the commissioning of a cement ball mill for a cement manufacturing company in Saudi Arabia. The project was carried out on cement mill line 2, which operates in parallel with the cement mill line 1, which had already been renovated

  • India: Reliance Infrastructure Ltd in advanced talks to sell its cement business

    Reliance Infrastructure Ltd has announced that it is in advanced talks to sell its cement business for US$394 million and a deal could be announced this week. The buyer would also take over the cement unit’s outstanding debt of 24 billion rupees under the terms of the deal, givi

  • Egypt: Egypt to issue a condition of contract for new cement production licenses

    Egypt: Minister of Industry and Foreign Trade Tarek Qabil announced that the ministry would issue conditions for tender documents and requirement specifications of cement production in the coming days to meet the future needs of the local market. The Minister said that the Cabine

  • South Korea: Six cement makers fined for price rigging in South Korea

    South Korea: South Korea's antitrust watchdog has fined six local cement makers a combined US$168m for fixing the prices of cement products and divvying up the market, according to Dow Jones. According to the Fair Trade Commission (FTC), cement companies have allegedly colluded t

  • Saudi: Saudi Cement shuts down two kilns

    Saudi Cement Co has closed down two kilns indefinitely as a result of high inventory, absence of growth in Saudi demand and the continuing ban on exports, it said in a bourse statement on Wednesday. The company reported an impairment charge of SAR66.2m (US$17.6m) in the fourth qu