THREE INDIAN COS HEAD FOR SRI LANKA
Article Abstract:
Gujarat Ambuja Cements (GAC), Saurashtra Cement Ltd (SCL) and Apollo Hospitals (AH) have decided to set up operations in Sri Lanka as a part of India's annual foreign direct investment of $140-185 million. GAC plans to invest $50 million and set up cement unit with a capacity of 5 lakh tonnes per annum (tpa) while SCL plans to invest $30 million an set up a cement capacity of 3 lakh tpa. Both the companies are setting up their units in the port city of Galle and are expected to start operations in about a year. AH is investing $4 million to acquire a 26 percent stake in a $32 million, 500 bed hospital project at Colombo. (khr)
Comment:
Is investing $4 mill to acquire 26% stake in $32 mil, 500 bed hospital project at Colombo in Sri Lanka
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ACC
Article Abstract:
ACC accounts for over 10 percent capacity of the Indian cement industry. The company posted a turnover of Rs616 crore in the quarter ended June 30, 1998 against Rs596 crore in the quarter ended June 30, 1997. Its sales volumes increased by 3.8 percent to 21.44 lakh tonnes. Its net profit decreased to Rs8.48 crore against Rs17.48 crore. The company commissioned a 1.2 million tonnes per annum unit and expanded another unit by 6 lakh tonnes in the first quarter of 1998-99. Its scrip is currently traded at Rs1250-1350. (khr)
Comment:
Accounts for over 10% capacity of the Indian cement industry
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ANDHRA MARKET FAILS TO ABSORB HIKE IN PRICES
Article Abstract:
Efforts to raise cement prices in Andhra Pradesh have been unsuccessful as the market there is unable to absorb in price hike. The state, which is the largest producer of cement in south India, is witnessing a situation where supplies are exceeding demand. The demand has fallen to 5 lakh tonnes per month at present against a monthly production of 10.40 lakh tonnes. Cement prices were raised in the first week of January after the state government decided to increase power tariff by 10 percent. (khr)
Comment:
Efforts to raise cement prices in Andhra Pradesh have been unsuccessful as the market there is unable to absorb in price hike.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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