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regular-article-logo Wednesday, 29 May 2024

UltraTech acquiring Maharashtra grinding unit from India Cements for Rs 315 crore

While the grinding unit at Parli in Maharashtra has a capacity of 1.1 million tonnes, the Aditya Birla group firm disclosed that it would also go in for a brownfield expansion of the unit which would entail an investment of Rs 166.4 crore

Our Special Correspondent Mumbai Published 21.04.24, 10:36 AM
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UltraTech Cement Ltd is acquiring a grinding unit in Maharashtra from India Cements for a consideration of Rs 315 crore.

While the grinding unit at Parli in Maharashtra has a capacity of 1.1 million tonnes, the Aditya Birla group firm disclosed that it would also go in for a brownfield expansion of the unit which would entail an investment of Rs 166.4 crore.

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The company will expand its capacity by 1.2 million tonnes.

Separately it is also adding 1.8 million tonnes at its other plant in Dhule, Maharashtra, for Rs 338 crore.

UltraTech Cement said in a regulatory filing that the new grinding unit at Parli will also come with a captive railway siding.

“The company has entered into an asset purchase agreement with the seller. This purchase will help the company to strengthen its presence in the rapidly growing Maharashtra markets,” UltraTech said.

The combined investment for the brownfield expansion at the two sites will be Rs 504.4 crore.

Earlier this month, UltraTech Cement announced the commissioning of two new greenfield capacities totalling 5.4mt in Chhattisgarh and Tamil Nadu.

These would take the company’s total cement capacity to 151.6 million tonnes. According to the company, this volume is more than 150 per cent of the capacity in the US and 80 per cent of Europe’s capacity.

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