Aditya Birla Group flagship UltraTech Cement, Sajjan Jindal-promoted JSW Cement, Lakshmi Mittal-run ArcelorMittal and a dozen other companies have set sights on Vadraj Cement, formerly owned by ABG Shipyard. AM Mining India, a joint venture between ArcelorMittal and Nippon Steel, Oaktree Capital-backed India Opportunities XII Investments and Nirma group-backed Nuvoco Vistas Corporation submitted expressions of interest (EoIs) for the assets. Nirma Group, JK Cement, Naveen Jindal group entity, and Oaktree Capital are also among the potential buyers. Naveen Jindal group company Jindal Panther Cement and PN Group-promoted CN Infrabuild also gave EoIs. Vadraj Cement was admitted for corporate insolvency by the National Company Law Tribunal (NCLT) in February. Dalmia Bharat boosts capacity with cement mill at Ariyalur in TN Dalmia Bharat (DBL) announced installation of a cement mill at its existing cement manufacturing unit in Ariyalur, Tamil Nadu. This new unit adds 1.0 MT of cement capacity to the company's overall installed capacity, bringing it to a total of 45.6 MT, including its subsidiaries. With an investment of `2.04 billion, this strategic Brownfield expansion is aimed at strengthening its market presence in the South and meeting the growing demand for cement in the region. This expansion aligns with the firm's long-term growth strategy. Contact: Dalmia Bharat Tel: 011 23465100 Email: corpcomm@dalmiabharat.com Website: www.dalmiabharat.com India's cement sector will see its highest capacity addition since FY10 The cement sector is witnessing capex announcements in anticipation of the medium-term demand growth and market share gains. Around 75 per cent of the expansion of around 160 million tonnes (MT) may come on stream over FY24-FY26. Of this, around 45 MT of capacity may come on stream in FY25 and this will be the highest capacity addition since the addition of 60 MT in FY10. Last fiscal witnessed multiple acquisition announcements, totalling around 20 million tonnes of cement capacity, with the top two players accounting for the bulk of them. Increasing consolidation is expected in the sector, given the intensifying competition for market share. The sector may witness further consolidation in the near-to-medium term. JSW Cement launches its first production unit in North India JSW Cement established a new site in Nagaur, Rajasthan, which will be the company's first unit in the northern part of the country. JSW Cement with a capacity of 19 million tonnes per annum in India as of September last year has a medium-term plan of achieving 60 million tonnes capacity in the next 5 years. During this period, the company is expected to make significant investments in various interventions to reduce its carbon emissions. Parth Jindal, MD, JSW Cement in a post on X said he was proud that JSW Cement is entering North India and that it was a new beginning for JSW, one that will see it becoming a Pan India cement player by 2026. Contact: JSW Cement Email: info@jswcement.in Website: www.jswcement.in UltraTech Cement Q4 net profit is up by 35 percent UltraTech Cement reported a 35.24 per cent increase in consolidated net profit at `22.58 billion for the fourth quarter ended 31 March 2024. The leading cement maker had posted a consolidated net profit of `16.70 billion in the January-March quarter of the last fiscal. Its revenue from operations rose 9.41 per cent to around `204 billion during the period under review. It was around Rs.186 billion in the corresponding period a year ago. The company’s total expenses in the March quarter stood at `173 billion, up 6.67 percent. Contact: UltraTech Cement Tel: 022-66917800 Email: www.ultratechcement.com