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Improving conditions with higher government infrastructure spending, housing construction and macro conditions are expected to steer cement volumes in the next fiscal to their highest in 10 years. With this, comes avid cement companies’ boosting their capacities but also rising concerns about input costs.
Deepak Khetrapal, MD, Orient Cement said the demand in southern and western regions, most affected during Covid, should grow 20% in FY22 while the all-India average would be about 15%. The demand for ordinary portland cement has picked up in last two months as infrastructure companies rushed to complete projects before the financial year-end, he said. Crisil sees cement volume growth hitting 13% in 2021-22, while analysts at Morgan Stanley project it in the 10-15% range over the next two years. This assumes significance because cement volume growth has been at 6-11% between FY15 and FY18. In FY19, the industry saw 12.5% volume growth before the Covid-19 pandemic hit, bringing growth to below 1%.
Top cement companies have announced one of the largest investments in recent times to boost capacity and improve operational efficiencies. While Aditya Birla’s UltraTech Cement announced an investment of ₹ 5,477 crore to expand capacity, Ambuja Cement and ACC, of the Lafarge-Holcim Group, will pump in ₹ 780 crore to set up six wastes heat recovery systems. Shiva Cement, a subsidiary of JSW Cement, is investing over ₹ 1,500 crore in a 1.36-mt clinker unit in Odisha.
Adani Road Transport Ltd (ARTL) notified that it has won a ₹ 1,039.90 crore highway project from NHAI in Telangana."We are pleased to inform you that ARTL has received a letter of award (LOA) for four laning of NH-365A from Kodad to Khammam in the State of Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM)," the company said in a BSE filing. The bid cost of the project is ₹ 1,039.90 crore, it further added. The construction period of the project is two years, while the operation period is 15 years, it noted.
With this project award, Adani Group will have a total of eight NHAI road projects under HAM and Toll-Operate-Transfer (TOT) in Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala and Gujarat, it added.
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