Global cement firms are raising capital to expand capacity and develop efforts to achieve carbon neutrality
The global cement industry outlook remains robust over the next 12 months. Driven by higher infrastructure spending and undertaking of massive affordable housing programs is expected to drive cement consumption in the global market. Consequently, many players have been seen expanding their production capacity to capitalize on the projected demand for cement from the short to medium-term perspective. To expand their production capacity, cement manufacturers have been raising capital through share sales. For instance, · In March 2023, Shri Keshav Cement & Infra Limited, a leading manufacturer of cement, announced a fund-raising initiative through the preferential issue of equity shares and equity share warrants. Through the initiative, the firm is intending to raise nearly INR 460 million, which the firm plans to use for expanding cement production capacity. Currently, the firm produces 3,50,000 MTPA and plans to expand the c...