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Cement

Last Updated: April-June 2008
 

For India, the world's second largest producer of cement, the recent boom in infrastructure and the housing market has only boosted its cement industry. Add to that an increasing global demand and a flurry of activity in infrastructure projects – highways roads, bridges, ports and houses – has sparked off a spate of mergers and acquisitions in the sector. Furthermore, the country’s finance minister, P. Chidambaram, has stated that India would double spending on infrastructure over the next five years to sustain its record economic growth and modernise its infrastructure.

Cement companies are fast developing plants to provide for a rapidly expanding economy. The cement industry is therefore poised to add 111 million tonne (mt) of annual capacity by the end of 2009-10 (FY10), riding on the back of approximately 141 outstanding cement projects. A report by the ICRA Industry Monitor the installed capacity is expected to increase to 186 mt per annum (mtpa) by FY08-end, and 219 mtpa by end of FY09, and up to 241 mtpa by FY10-end. As a result, India’s cement industry will record an annual growth at 10 per cent in the coming years with higher domestic demand resulting in increased capacity utilisation.

Domestic Players

While the Cement Corporation of India, a Central public sector undertaking, comprises 10 units; the various State governments own 10 large cement plants. Among the leading domestic players in terms of cement manufacturing are: Ambuja Cement, Aditya Birla Group (which owns UltraTech Cement), ACC Ltd., Binani Cement, India Cements, Grasim, J K Cement, and L & T Cement. They are not only the foremost producers of cement but also enjoy a high level of equity in the market.

Industrial production

The cement industry is enhancing its production levels as new homes and offices are being built, and in keeping with the economy’s annual growth rate. According to the Cement Manufacturers Association, the overall cement production rose by 8.11 per cent during 2007-08 to 168.29 million tonnes (mt) as against 155.66 mt in 2006-07.


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Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
 
Cement Report
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