Cement News tagged under: UltraTech Cement

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UltraTech commissions Haryana grinding plant, India

23 September 2015, Published under Cement News

UltraTech Cement has commissioned a 1.6Mta grinding unit at Jhajjhar in the northern Indian state of Haryana, lifting the company's total cement capacity to 63.1Mta. Clinker for the new grinding unit will be sourced from the company's Aditya Cement Works in neighbouring Rajasthan, where a new clinker line was also commissioned in March. With the additional grinding capacity, the company will be able to tap the northern region more effectively.

UltraTech gets MoE go-ahead for Awarpur expansion, India

18 September 2015, Published under Cement News

UltraTech Cement has received clearance from the Ministry of Environment to expand capacity at its Awarpur plant in Maharasthra, subject to certain conditions. The company has proposed to raise clinker production from the existing 3.3Mta to 4.5Mta and raise cement output from 4.48Mta to 6Mta. The Union Environment Ministry’s Expert Appraisal Committee (EAC) had earlier examined UltraTech Cement's proposal and suggested green clearance. "Based on the EAC recommendation, the Environment Mini...

UltraTech Cement poised to lift capacity to 71Mta

02 September 2015, Published under Cement News

UltraTech Cement is set to take its capacity to 71.2Mta by 31 March 2016 on the back of ongoing projects as well as recent acquisitions, chairman Kumar Mangalam Birla said on Friday. "Despite the cement industry being snowed under the slowdown in the rural economy, lack of investment from both private and public sector coupled with the overall sluggish demand, UltraTech had put in a commendable performance...With the on-going projects underway, the capacity in India will grow to 71.2Mta by...

UltraTech reportedly nearing deal to buy Bhilai grinding plant, India

27 August 2015, Published under Cement News

UltraTech Cement is rumoured to be in advanced talks to buy Jaiprakash's 2.2Mta grinding plant in Bhilai, Chhattisgarh state, according to local press.  Citing sources familiar with the matter, the reports state that the two companies are waiting for approval from state-run steelmaker Steel Authority of India Ltd (SAIL), which owns 26 per cent of the plant, before finalising the deal. In December, UltraTech agreed to acquire the Madhya Pradesh assets of Jaiprakash Associates Ltd, which ...

UltraTech Cement

24 August 2015, Published under Cement News

India and the UAE have announced plans to create a multi-billion dollar fund to invest in India’s infrastructure sector. The fund, which plans to raise up to US$75bn, will be focused on next generation projects including railways, ports, roads, airports, industrial corridors and parks. Although no time frame has been given, or details on how the fund will be financed or structured, UltraTech Cement will be among the cement companies hoping the new fund will bring with it an increase in cem...

UltraTech Cement seeks shareholders approval for NCD issue, India

03 August 2015, Published under Cement News

The board of UltraTech Cement Ltd has sought shareholder approval to raise up to INR90bn rupees via issue of non-convertible debentures (NCD) on a private placement basis, the company said in a release to the exchanges today. The proceeds from the NCD issue will be used to finance ongoing capital expenditure, repay existing loans or for general corporate purposes.

India: UltraTech-Century merger talk heightens

28 July 2015, Published under Cement News

UltraTech Cement Ltd and Century Textiles & Industries Ltd are in talks with their respective dealers to synchronise their cement distribution network, trade sources told Cogencis.     UltraTech and Century Textiles dealers have been told that a combined sales approach could be in place by October. The move has led to resurfacing of talk that Century Textiles' cement division will be merged with UltraTech.     The Aditya Birla group-owned UltraTech Cement and the BK Birla-owned Century Tex...

UltraTech first quarter profit falls 5.5%

21 July 2015, Published under Cement News

UltraTech Cement's first quarter standalone net profit fell 5.5 per cent YoY to INR591 crore. The Aditya Birla Group firm had posted net profit of INR628 crore in the year-ago period. Cement and clinker sales during the quarter ended 30 June 2015 climbed six per cent to 12.14Mt from 11.7Mt a year earlier. Energy costs improved by seven per cent but the reduction in fuel prices was partly offset by an increase in rail freight expenses. Input prices remained stable except for the rise i...

UltraTech Cement non-executive director resigns

06 July 2015, Published under Cement News

UltraTech Cement Ltd has informed the Bombay Stock Exchange that Adesh Gupta, non-executive director has resigned from the Board of the Company with effect from 30 June 2015.

Jaiprakash gets shareholder go-ahead to sell to units to UltraTech

19 May 2015, Published under Cement News

Jaiprakash Associates Ltd has received shareholder approval to sell two cement units in Madhya Pradesh to UltraTech Cement Ltd, the company said in a notice to the stock exchanges. In December, Jaiprakash Associates signed a deal with UltraTech Cement to sell its cement units in the central Indian state for INR54bn. The board of directors of UltraTech Cement and the Competition Commission of India have also approved the deal.