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UltraTech Cement has commissioned the second cement grinding unit of 1.75 million tpa at Manawar, Dhar district in Madhya Pradesh. Company had earlier commissioned a greenfield clinker capacity of 2.5 million tpa on 19 April 2018 in record time of less than 365 days. Along with the clinker, UltraTech had also commissioned a cement grinding […]

UltraTech Cement is planning to raise Rs 9,000 crore via an issue of redeemable, non-convertible debentures on a private placement basis, the company said on Friday, while notifying the exchangeNSE 0.00 % of its annual general meeting to be held on July 18. It plans to seek shareholders’ nod for the issuance on the AGM. […]

In an industry where size matters more than any other attribute, cement majors in the country have been acquiring large distressed rivals. But those with regional ambitions are also getting bigger, leading capexcycle revival in world 2nd-largest concrete market. Mid-level companies, which have a localised footprint in India’s highly regional cement industry, have revealed plans […]

Ramco Cements’ ongoing capacity expansion projects worth Rs.1,775 crore will be commissioned in FY20. company is setting up Line-III with an additional clinkerisation capacity of 1.5 million tpa at its Jayathipuram plant. The project cost is Rs.680 crore. Work is underway on expansion of grinding units in Visakhapatnam, and Kolaghat. Apart from this, the work […]

Birla’s investment in Madhya Pradesh for limestone block. Ultratech Cement, which is owned by Aditya Birla group, has bagged the Deora-Sitapuri-Udipyapura limestone mining block in Madhya Pradesh, said an official spokesperson, adding that the block in question is in close proximity to its existing limestone mines recently commissioned by Dhar Cement Works. The company further […]

In a move to consolidate its leadership position, the Kumar Mangalam Birla-led UltraTech Cement will buy the cement business of Century Textiles and Industries for an enterprise value of Rs.8,621 crore. Proposed deal will help UltraTech cross the 100-million-tonne capacity milestone and will make the company the third-largest player globally (excluding China). Enterprise value of […]

Acquisition of Binani Cement will give us an exposure to the entire north Indian market, including Gujarat, and will help Dalmia Bharat emerge as a pan-India cement manufacturer. Currently, our consolidated capacity stands at 27 million tonnes (mt). Acquisition of Murli Cement increased it by 3 mt and Kalyanpur Cement by another 1 mt. Now […]

In the latest development in the battle to acquire Binani Cement, promoters Binani Industrieshas approached Ultratech Cement to sell equity shareholding in the company through a shares sale and purchase agreement in return of funds to pay off the debtors to company, Ultratech said in a filing with the BSE. Accordingly, Ultratech has in-principle agreed […]

France-based cement manufacturing major Vicat Group entered into Memorandum of Understanding (MoU) with Andhra Pradesh Economic Development Board (APEDB), the nodal agency for attracting investments into State, to set up a green field cement grinding unit in Vizianagaram area of the state entailing an investment of Rs.510 crore. Agreement was inked at the Indo-French Economic […]

After the Dalmia Bharat group won Binani Cement in a closely fought and multi-cornered battle for the debt-laden buildings material company, the Indian market leader Ultratech Tuesday approached the bankruptcy court to seek a more transparent way of evaluating the bids “that maximise value for all stakeholders.” Aditya Birla Group-led cement company, which was almost […]