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In the realm of <keyword id="6378916" type="General" weightage="90" keywordseo="cement" source="Orion">cement</keyword> production, China and India are navigating diverging market currents, shaped by distinct economic landscapes. <keyword id="125045" type="General" weightage="50" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword>' insights reveal a challenging outlook for <keyword id="19792359" type="General" weightage="80" keywordseo="chinese-cement" source="Orion">Chinese cement</keyword> demand in 2024, driven by ongoing distress in the property sector. Meanwhile, India's <keyword id="34556" type="General" weightage="60" keywordseo="cement-industry" source="Orion">cement industry</keyword> charts a more optimistic course, with steady demand growth projected over the medium term. The Chinese property sector's persistent challenges and a projected slowdown in infrastructure investment contribute to weakened cement demand in 2024. Strained financing conditions for local governments, coupled with a decline in land sales, hamper their capacity to bolster spending on crucial infrastructure projects. Despite these hurdles, Fitch notes a potential stabilization of producers' margins in the face of adversity. The gross profit of China's top five cement producers witnessed a 3% decline in 3Q23, marking a notable slowdown from the sharper contractions observed in previous quarters. Anticipating a reduction in capacity, Fitch foresees smaller, less profitable producers exiting the market in 2024. Government policies on capacity control and sector decarbonisation are expected to contribute to a medium-term reduction in overall capacity. Contrasting China, India's <keyword id="82914" type="General" weightage="20" keywordseo="cement-sector" source="Orion">cement sector</keyword> foresees a robust trajectory driven by the nation's steady GDP expansion. Fitch predicts an annual growth rate of 6 per cent-8 per cent in cement demand over the coming years. Infrastructure and affordable housing projects, fuelled by government spending, are expected to spearhead this growth, with additional impetus from the ongoing recovery in urban housing throughout 2024. While India anticipates a doubling of annual cement capacity additions in the next five years, the industry's robust demand growth will help maintain healthy capacity utilization. Fitch notes that the top five Indian producers will spearhead new capacities, with further mergers and acquisitions on the horizon. Despite this positive outlook, the industry's focus on market share retention amid capacity expansions is likely to temper the potential widening of profit margins, even with energy prices normalizing post-2022.

China's cement sector faces headwinds, while India sees steady growth: Fitch Ratings

<keyword id="183823" type="General" weightage="50" keywordseo="ambuja-cements-ltd" source="Orion">Ambuja Cements Ltd</keyword>, a part of Adani Cement on Thursday said it has been declared as the 'preferred bidder' for the <keyword id="16547676" type="General" weightage="100" keywordseo="uskalvagu" source="Orion">Uskalvagu</keyword> limestone block in <keyword id="6357961" type="General" weightage="80" keywordseo="odisha" source="Orion">Odisha</keyword>. An e-auction was conducted by the Odisha government for the block, situated in Malkangiri district, <keyword id="105382" type="General" weightage="80" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword> said in regulatory filings. The <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword> firm has not disclosed the bid amount for the block but said it is spread over an area of 547 hectares with an estimated limestone resource of about 141 million tonnes. "The company shall get the statutory licences and permits related to mining operations to be declared a 'successful bidder' and subsequently enter into a 'Mine Development and Production Agreement (MDPA)' with Government of Odisha to commence the mining operation," it said. Preferred bidders are those who are selected by the vendor with the intention to sell the business or award a contract, subject to the completion of terms and conditions. Ambuja Cements with its subsidiary ACC Ltd has a capacity of 67.5 million tonnes with 14 integrated cement manufacturing plants and 16 cement grinding units across the country. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/loankuber-a-mortgage-platform-raises-2-million-led-by-inflection-point-ventures/articleshow/97972467.cms">Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indigo-stock-slides-4-in-early-trade-after-reports-of-a-large-block-deal/articleshow/97970085.cms">Indigo stock slides 4% in early trade after reports of a large block deal</a>

Ambuja declared as preferred bidder for Uskalvagu limestone block in Odisha

New Delhi, Nov 27 () JSW Cement is aiming to nearly double its production capacity to 25 million tonne per annum by 2023 by investing around Rs 2,875 crore and be among top five cement makers.
The investment would fund the expansion plans through a combination of debt and internal accruals, JSW Cement, part of USD 14 billion JSW Group, said in a statement. 
The company is planning to expand manufacturing capacity at its Odisha-based subsidiary Shiva Cement. It is also looking at ramping up capacity at its other units to reach the target. 
"As part of our strategy to play a significant role in India's infrastructure growth story, we are revising our overall cement capacity targets to 25 MTPA by 2023," said JSW Cement Managing Director Parth Jindal.
According to him, after completion of the capacity expansion, JSW Cement will be among top 5 Indian cement companies. 
The company's current capacity is 14 MTPA.
"JSW Cement's aggressive ramp up in capacity will entail a capex investment of approximately Rs 2,875 crore (including the planned capex at Shiva Cement)," the company said.
The company, which supplies cement to various infrastructure projects including Mumbai Metro, Kolkata Metro Rail, Coal India Project, AP State Housing Projects, among others, is sensing growth opportunity in the Portland Slag Cement (PSC).
"The growth opportunity for PSC is visible in the number of infrastructure projects that now uses JSW's PSC across India," it said adding the company is becoming a preferred green cement supplier for most of these projects. 
According to the statement, in the South, JSW Cement plans to add 3.6 MTPA capacity to take its overall green cement capacity to 11.6 MTPA. 
In the West, JSW Cement plans to add 2.4 MTPA taking its overall cement capacity to 4.6 MTPA. 
In eastern India, it is adding the largest chunk of production capacities of over 5 MTPA taking its capacity to 9 MTPA. 
"The capacity ramp up will be at manufacturing units at Salboni, West Bengal where the company will add 2.4 MTPA, Jajpur, Odisha facility with an addition of 1.8 MTPA along with 1 MTPA capacity addition at Shiva Cement," it said.
According to the Cement Manufacturers Association, India's cement industry has an installed capacity of 502 MTPA comprising about 250 large cement plants.
Adity Birla group firm UltraTech is the leading producer, which has a consolidated capacity of 117.35 MTPA of grey cement. KRH

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China's cement sector faces headwinds, while India sees steady growth: Fitch Ratings

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Ambuja declared as preferred bidder for Uskalvagu limestone block in Odisha

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JSW Cement to double production capacity to 25 MTPA by 2023

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