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INDIA CEMENTS CAPITAL LIMITED
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Starwood Retail Partners. Free Email Tracker for Gmail Get realtime notification for email opens or clicks. Benjamin W. India: India Cements plans to merge with its subsidiary, Trinetra Cements. N Srinivasan, vice-chairman and managing director of India Cements, said that the company wanted to consolidate cement operations. He adding that, following the merger, the total cement production capacity of India Cements would rise to India Cements has a production capacity of Cement demand in south India was flat during the period. The board of ICL met on 26 February and approved the amalgamation of the two subsidiaries with itself.
The amalgamation is subject to regulatory and other approvals.
Chennai - 600002
ICL holds a ICL has an India: Producers in the south of India have started exporting cement to Myanmar in response to depressed market conditions locally. Chettinad Cements, the India Cements, Dalmia Cements and Ramco Cements have all started shipping cement to Myanmar in the past few months, according to local media. It is not very remunerative, but when the chips are down, we have do something to stay afloat," said Vipin Agarwal, CEO-south, Dalmia Cements.
He added that producers make 'token' profits from this market but hope it will become profitable in the future.
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Dalmia transports its cement from Dalmiapuram in central Tamil Nadu to Tuticorin port for subsequent export. Ramco Cements also starting trialling cement exports to Myanmar in mid, having shipped around 40,t so far. Agarwal said that demand in south India has continued to fall with growth in Karnataka, no change in Kerala and decreases in Tamil Nadu and Andhra Pradesh. Myanmar is the second export market that cement producers are testing, after Sri Lanka.
Weak demand for cement resulted in mounting pressure on cement selling prices. According to newspaper The Hindu, YS Jaganmohan Reddy has been accused of influencing his father, deceased chief minister of Andhra Pradesh YS Rajasekhara Reddy, to grant government benefits to firms that invested in his own companies.
In return, Penna Cements was allocated mining leases in Anantapur and Kurnool districts and the transfer of limestone mines originally allotted to Walchand Cements. News India Cements.
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