Building & Construction News Today

Indian cement sector projects stable prices, reduction in costs for FY25. Top executives anticipate moderate demand growth, following estimated 8-9% rise in cement demand for FY24.

Taiwan's Chia Hsin Cement reported a 1Q 2024 net loss of TWD38.698m ($1.19m), contrasting with previous year's profit. Pretax loss stood at TWD29.843m despite a revenue increase from TWD651.402m in 1Q 2023 to TWD699.142m in 1Q 2024.

Uttar Pradesh government plans a Rs 45,000 crore allocation for highway and tertiary road infrastructure in FY25, improving intrastate passenger and cargo movement. The public works department will utilize Rs 34,000 crore of this budget.

April 2024 saw a drop in European Glyoxal prices due to weakened construction sector demands, particularly in Germany, experiencing a 1.5% monthly decline. The downward trend is projected to continue, says the German Building Materials Association.

The Indian cement industry, including major players like UltraTech and Ambuja, faces challenges with slow sales and pricing pressures in Q4 FY24 and in the beginning of FY25. Uncertainties, including elections and impending monsoon, contribute to cautious market sentiments.

JK Cement has doubled the capacity of its Panna cement plant in Madhya Pradesh to 6.6Mt/yr from 3.3Mt/yr, following a substantial investment. This will facilitate ‘growing demand’ in Central India, Uttar Pradesh, and Bihar.

In Q1 2024, Huaxin Cement reports a 7% Year-on-Year revenue increase, hitting CNY7.08bn ($977m). However, net income fell by 28% over the same period, to CNY177.5bn.

Orient Cement has commissioned Phase 2 of the waste heat recovery (WHR) plant at its Chittapur facility in Karnataka, elevating the plant's WHR power capacity to 10.1MW.

UltraTech Cement reports a 12% annual sales growth reaching US$8.5bn for the fiscal year 2024, with a substantial 38% increase in net income, amounting to US$840m.

UltraTech Cement and JSW Cement emerge as potential acquirers for Vadraj Cement. New finances worth US$959m gathered through loans to facilitate this potential acquisition.