The Supreme Court today directed 10 cement manufacturing companies to pay Rs 630 crore by June 24 as a pre-condition for hearing their appeals against a penalty of Rs 6,300 crore imposed on them for artificially
8 companies plan to add 22-mt capacity. Addition of new capacities on the back of a fall in demand has led to a downturn in capacity utilisation in the industry. Suresh P. Iyengar Mumbai, Feb. 14 The Gujarat Government's decision to put its mining policy on the fast track will give a new lease of life to eight cement companies that plan to add 22 million tonnes of capacity.
The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company seems to be a non-serious player.
Bihani Cement Ltd, the flagship company of the Braj Binani Group, which has interests in cement, zinc and fibre glass, is growing globally. "We are trying to replicate what Anil Agarwal did to Vedanta," says Vinod Junej a, deputy managing director, Binani Cements.
Making cement is energy-intensive. Energy accounts for a significant portion of the cost of producing cement. Most technological advancement, unsurprisingly, has been directed towards reducing its consumption. Unlike other industries in India, in which technological levels lag behind the best in the world, the cement industry is state of the art.