After ACC Concrete put on hold its ready-mix concrete expansion plans, it is now the turn of Aditya Birla Group. Grasim, which has been hit by the slowdown in the real estate sector, will not make any further investment in RMC unless demand picks up.
“Grasim has slowed down on its RMC expansion and is not planning any further investment in FY10,” Sanjeev Bafna, president and deputy CFO of Grasim, told FE.
Bafna further said the company has spend about Rs 300 crore in expanding its RMC business so far, of which hardly Rs 100 crore was spent in FY09. Grasim currently has 39 RMC units and UltraTech has about 27 units in operation.