UltraTech Cement - February 2016
Grasim Industries is reportedly planning to spend IDR40bn (US$584.3m) on capacity expansions over the coming financial year, with IDR38bn of this earmarked for its subsidiary UltraTech Cement. Over the past year UltraTech has worked hard to reduce its operational costs, bringing them down by over two per cent through its use of multiple fuels. The cement producer has also benefitted from the fall in petcoke prices which have declined from around US$74/t in August last year to US$38/t. In the past year the company has increased its use of petcoke by as much as 50 per cent.