Team News Riveting
Mumbai, June 2
Aditya Birla Group Cement Flagship Company, UltraTech Cement announces Rs 12,886 crore investment towards 22.6 million tonne per annum (MTPA) capacity expansion at US$ 76 per tonne of cement.
The Board of Directors at its meeting held today, approved capex of Rs. 12,886 crore towards increasing capacity by 22.6 mtpa with a mix of brown field and green field expansion. This would be achieved by setting-up integrated and grinding units as well as bulk terminals. The additional capacity will be created across the country.
Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “This ambitious capacity expansion plan is a significant milestone in the ongoing transformational growth journey of Ultra Tech. The company has more than doubled its capacity over the last five years and is committed to meeting India’s future needs for housing, roads, and other infrastructure. This investment is backed by a strong conviction on India’s growth potential as well as a deep and nuanced understanding of the market dynamics of the cement industry. Given the size of the investment outlay, I am confident that this new capacity creation will have a multiplier effect leading to jobs and growth across multiple regions in India.”
Commercial production from these new capacities is expected to go on stream in a phased manner, by FY25. UltraTech’s current expansion program is on track and estimated to be completed by the end of FY23. Upon completion of the latest round of expansion, the Company’s capacity will grow to 159.25 mtpa, reinforcing its position as the third largest cement company in the world, outside of China.
