Cement News tagged under: UltraTech

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Grasim looks to invest INR59bn in modernising its cement plants

25 May 2018, Published under Cement News

India’s Grasim Industries will invest over INR130bn (US$1.9bn) in its cement and textiles businesses over the next 24-36 months, as the company looks to increase capacity and modernise production, according to a senior official of the group. The company, including its subsidiary, UltraTech, will invest INR59bn in modernising its existing cement plants, while also carrying out environmental upgrades and increasing the capacity of the assets acquired from Jaiprakash Associates. Business res...

UltraTech commissions new plant in Manawar

19 April 2018, Published under Cement News

UltraTech has commissioned its greenfield facility in Manawar, Madhya Pradesh, with a 2.5Mta clinker capacity. The plant has reached this stage in under a year, which is record time for a plant of this capacity, according to the press release. The kiln is designed for multi-fuel and alternative fuel usage. Alongside the kiln, the company has commissioned a 1.75Mta grinding unit and an auto-loading facility. The new plant is located in southwest Madhya Pradesh, with no other manufacturing u...

Jaiprakash receives director approval to divest assets to UltraTech

30 June 2017, Published under Cement News

Jaiprakash Associates said it received approval from its committee of directors to close the transaction for selling part of its cement business to UltraTech Cement for INR161.89bn. The deal will see the cement plants in Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh move to UltraTech. An addition unit, currently under construction in Uttar Pradesh, will become part of UltraTech for an additional INR4.7bn. The proceeds of this transaction will help t...

Ultratech to expand Chittorgarh limestone mine

29 December 2016, Published under Cement News

UltraTech Cement, India, has proposed an expansion of the Aditya limestone mining project at Tehsil Chittorgarh and Nimbahera, district Chittorgarh, Rajasthan from 10Mta to 13.17Mta. The company has proposed expansion of clinker production capacity from 8.4Mta to 8.9Mta at the facility near Sawa Shambupura, district Chittorgarh. The enhanced limestone supply will allow the clinker expansion to take place.

India: cement volume growth

09 June 2016, Published under Cement News

Volume growth in the Indian cement market increased by 12-18 per cent in the quarter ending March 2016 compared to the 4.7 per cent drop seen in the corresponding quarter last year. This level of growth is the largest seen in the last six quarters, and the only growth to reach double digits, as reported by The Economic Times, India. Due to lower petcoke and coal prices the cost of producing 1t of cement fell by 8.6 per cent to INR3517 (US$52.70) YoY. Medium and small companies in the c...

India: Grasim and UltraTech well positioned for growth

09 May 2016, Published under Cement News

Grasim Industries, a subsidiary of UltraTech, has announced impressive results and signs of a recovery in cement demand growth, which is estimated at ~11.5 per cent for the current quarter. Meanwhile, UltraTech outpaced the industry with domestic volume growth of 15 per cent. Revenue for the quarter was INR69.2bn (US$bn1.04bn) vis-à-vis INR65.95bn (US$991m) in 4Q15. EBITDA was up by three per cent at INR14.78bn. helped by enhanced volumes and lower fuel prices. Net profit was INR7.23bn co...

Jaypee Group’s cement assets up for grabs

29 December 2015, Published under Cement News

Jaypee Group is planning for an outright sale of its 20Mt portfolio of cement assets worth an estimated INR190 (US$2.86bn) enterprise valuation. UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement have each been approached to take over Jaypee Group’s cement business. Other private equity firms are also reported to have been approached with a detailed information memorandum of operations. Jaypee Group, one of the top ten most indebted Indian conglomerates with a ...

UltraTech Cement

23 December 2015, Published under Cement News

UltraTech Cement, along with 10 other companies, was given a reprieve earlier this month when a US$945m fine issued by the Competition Commission of India (CCI) for cartelisation was set aside by the Competition Appellate Tribunal. The original ruling, passed in 2012, was based on complaints by the Builders Association of India accusing the cement producers of colluding to limit production and manipulate cement prices.  The tribunal has now requested that the CCI looks into the matter aga...

UltraTech appoints K K Maheshwari as MD

21 December 2015, Published under Cement News

UltraTech Cement appoints K K Maheshwari as Managing Director and Additional Director for a period of four with effect from 1 April 2016.  Mr Maheshwari is a chartered accountant with over 38 years of experience. He will succeed O P Puranmalka who will step down as MD on 31 March 2016.

Jaiprakash reportedly in talks to sell Bhilai unit to UltraTech

21 May 2015, Published under Cement News

Jaypee Group company Jaiprakash Associates is in talks with UltraTech Cement to sell its 2.2Mta cement plant in Bhilai, Chhattisgarh state, Business Standard report suggests. The Bhilai plant is a joint venture between Jaypee Group (74 per cent stake) and public sector Steel Authority of India (26 per cent). Sources say Ultratech will pay around INR2000 crore in a deal that would lift the company's overall capacity to 67Mta. When asked to comment by Business Standard, a Jaypee Group spokes...