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New Delhi: Vishnu Mathur, executive director at the Automotive Component Manufacturers’ Association, is to take over as director general of the Society of Indian Automobile Manufacturers (Siam), according to a person familiar with the matter who declined to be named. The change is effective 7 May.

He takes over from Dilip Chenoy, who moves over to the National Skills Development Corp. as its first chief executive.

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Holcim to invest $1.1 bn to grow Indian capacity

Mumbai: Holcim Ltd, the world’s second largest cement maker by output, plans to invest $1.1 billion (around Rs4,900 crore) in the Indian market over the next five years to expand capacity to 60 million tonnes (mt), from the current 50 mt, as the country builds roads, ports and bridges to help its economy grow.

Holcim already controls two Indian cement makers—Ambuja Cement Ltd and ACC Ltd.

—Bloomberg

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SAIL cuts product prices as demand eases

Mumbai:Steel Authority of India Ltd (SAIL), the nation’s second largest producer, lowered prices of long products, commonly used in the building industry, from 1 May as demand eased.

Prices were cut by as much as Rs2,000 rupees a tonne, with prices for thermo-mechanically-treated bars reduced by Rs1,000, spokesman R. K. Singhal said by phone.

—Bloomberg

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