Ultratech Cement to increase capacity
AV Birla group`s Ultratech Cement, a manufacturer of cement, said that it may go for expansion to retain its market share in the domestic cement market.
The cement manufacturer presently produces 17Mt of cement at its five plants and controls 10% market share. It has embarked on a 4Mt brownfield expansion at its Tadipatri plant in Andhra Pradesh, which will be fully operational in 2008-09.
Ultratech cement needs to add further capacity amounting to at least two million tonne, to retain its market share. It could be a greenfield project, the company said.
Presently, the Aditya Birla group holds 20.6% share through its two cement entities, Grasim Industries and Ultratech Cement.
Grasim has recently signed a MoU with the Orissa government for setting up a 3.5Mt plant.
[Source Business Standard]. Published under Cement News
