UltraTech Cement to invest Rs 940 cr for increasing production capacity in eastern markets

Leading cement maker UltraTech Cement Ltd on Monday said it has plans to invest Rs 940 crore to increase the production of premium products for strengthening its position in eastern markets

Press Trust of India October 21, 2019 19:55:16 IST
UltraTech Cement to invest Rs 940 cr for increasing production capacity in eastern markets
  • The board of the Aditya Birla group has approved the expansion of grinding capacities in Bihar and West Bengal and to open a grinding unit in Odisha

  • All plants will be commissioned by the first quarter of 2021

  • UltraTech said, 'This will further strengthen the company's position in the eastern markets'

New Delhi: Leading cement maker UltraTech Cement Ltd on Monday said it has plans to invest Rs 940 crore to increase the production of premium products for strengthening its position in eastern markets.

The board of the Aditya Birla group has approved the expansion of grinding capacities in Bihar and West Bengal and to open a grinding unit in Odisha.

"The board at its meeting held today approved capex of Rs 940 crore for making premium products with an increase in its grinding capacities in Bihar and West Bengal by 0.6 mtpa (million tons per annum) each and a new grinding unit of 2.2 million tonne in Odisha," UltraTech said in a statement.

UltraTech Cement to invest Rs 940 cr for increasing production capacity in eastern markets

Representational image. Reuters.

All plants will be commissioned by the first quarter of 2021.

It further said, "This will further strengthen the company's position in the eastern markets".

UltraTech completed the acquisition of Century Textile's cement business, with the scheme of demerger becoming effective from 1 October, 2019.

With this acquisition, UltraTech's cement manufacturing capacity stands augmented to 117.4 mtpa, including its overseas capacity, the company said.

"This makes UltraTech the third-largest cement company in the world, outside China. It is also the only company in the world to have a capacity of over 100 million tonne in a single country, outside China," it added.

Moreover, it has also fully integrated UltraTech Nathdwara Cement (formerly Binani Cement) with UltraTech systems and processes.

UltraTech Cement had acquired the Rajasthan-based firm (Binani Cement) in November, 2018 through its offer of Rs 7,950 crore.

It had also acquired 21.2 mtpa cement capacity from Jaiprakash Associates in June, 2017.

Updated Date:

also read

Dholera International Airport awaits cabinet nod: All you need to know about the greenfield airport
India

Dholera International Airport awaits cabinet nod: All you need to know about the greenfield airport

The ambitious Dholera International Airport project in Gujarat is yet to take off as the first phase of its construction is still awaiting approval from the Cabinet.

RBI proposes new norms for classification, valuation of banks' investment portfolio
India

RBI proposes new norms for classification, valuation of banks' investment portfolio

The new norms propose to bridge the gap between the existing guidelines and global standards and practices with regards to classification, valuation and operations of the investment portfolio of commercial banks