Cement News tagged under: UltraTech Cement

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CEMEX and Star Cement collaborate to recycle concrete waste

03 October 2023, Published under Cement News

CEMEX UAE , has signed a cooperation agreement with Star Cement Co LLC, a wholly-owned subsidiary of UltraTech Cement Ltd , India which aims to recycle concrete waste in the construction industry. Through the partnership, the companies will deploy new solutions to manage and reuse concrete waste by using advanced and environmentally-safe practices. Furthermore, CEMEX will provide low-carbon by-products to Star Cement , helping it to reduce the carbon footprint of the built environment....

UltraTech Cement buys land from The India Cements Ltd

22 September 2023, Published under Cement News

UltraTech Cement ( Aditya Birla Group ) has entered into an agreement with The India Cements Ltd , on 21 September 2023 to purchase a 73.35-acres plot of land (which includes land of 14.53 acres to be procured), located at villages Kantakapalle and Chinnipalem, Mandal Kothavalasa, District Vizianagram, Andhra Pradesh, for a consideration of INR70,000m, exclusive of taxes, stamp duty and registration charges.    “This is for the purposes of the business of the company. The disclosure i...

UltraTech Chairman sets new capacity goal at AGM

14 August 2023, Published under Cement News

In FY22-23 UltraTech Cement recorded net revenues of US$7.9bn (INR632,400m) and an EBITDA of US$1.4bn (INR111,230m).   FY22-23 marked significant milestones for UltraTech as the first Indian cement company to record over 100Mt sales volume in a fiscal year.   UltraTech has doubled its grey cement production capacity from 66.3Mta production capacity in FY15-16 to 132.4Mta in FY22-23. The company commissioned an additional 12.4Mta during FY22-23 and another 5.5Mta in FY23-24, elevating ...

Grasim Industries sees revenue improve 11%

11 August 2023, Published under Cement News

Grasim Industries, which owns UltraTech Cement , has reported revenue of INR310,650m (US$3753m) in the quarter ended 30 June 2023, marking an 11 per cent improvement YoY. Net profit over the same period declined seven per cent to INR25,760m due to higher operational costs and lower realisation. The company has recently launched Birla Pivot, a full-scale B2B e-commerce platform for building materials in Maharashtra, Madhya Pradesh and Delhi. According to Grasim, the platform will ensure o...

UltraTech Cement invests in wind power company

04 August 2023, Published under Cement News

UltraTech Cement has entered a Share Subscription and Shareholders Agreement and Energy Offtake Agreement with VEH Radiant Energy Pvt Ltd for the purpose of acquiring 26 per cent equity shares of VEH Radiant. VEH Radiant is engaged in generation and transmission of renewable wind power energy. The cost of the share price will not exceed INR151m (US$0.181m). VEH Energy has a registered office at TSIIC Hyderabad Knowledge City, India.

UltraTech commissions 1.3Mta expansion in West Bengal

13 July 2023, Published under Cement News

UltraTech Cement has commissioned its 1.3Mta brownfield cement capacity expansion at Sonar Bangla , West Bengal, taking the plant’s total capacity to 3.3Mta. This marks completion of the company’s first phase of expansion in the eastern region. UltraTech has commissioned cement capacity of 10.3Mta in the region over the last two years, catering to the rapidly-growing cement demand in the area. The new capacity will also increase the company’s ratio of blended cement as part of its effo...

UltraTech Cement listed in 'Best of Indian Brands 2023'

28 June 2023, Published under Cement News

UltraTech Cement Ltd has ranked 28th in Interbrand’s ‘Best Indian Brands 2023’ ranking list. UltraTech is the only cement brand to be featured in the 2023 list. Interbrand, a leading global brand consultancy firm, recently unveiled the ‘Best Indian Brands 2023’ rankings. UltraTech has been one of the only few brands that has been part of the Best Indian Brands table since its inception in 2014. As per Interbrand’s report, UltraTech has maintained its position in the Best Indian Brands l...

UltraTech Cement Ltd ranked No1 for Sustainability

23 June 2023, Published under Cement News

UltraTech Cement Ltd has been ranked No1 in Sustainability in the Infrastructure and Engineering sector in Sustain Labs Paris and BW Businessworld’s India's Most Sustainable Companies list for the 2022-23. UltraTech has seen an improvement in its overall position in the India’s Most Sustainable Companies ranking. From being ranked No 15 in 2021-22, the company has improved two positions to No 13 in 2022-23. This improved ranking is a recognition of the significant progress made by Ul...

Sustainability-linked loans gain momentum in the cement industry

16 June 2023, Published under Cement News

This week JSW Cement announced that it was signing a new loan agreement that would be sustainability-linked to raise US$50m in debt capital to help achieve its 50Mta production capacity goal. While this is not JSW Cement's first such loan, ICR looks at the growing trend for committing to sustainability loans in the cement sector, and what they really offer for the environment and shareholders.  Sustainability-linked bonds (SLBs) and sustainability-linked loans (SLL) have become increasing...

UN General Secretary calls for action on net zero

14 June 2023, Published under Cement News

The Secretary General of the United Nations, António Guterres, has issued a call to action, alongside the CEOs of major cement and concrete manufacturers, for the industry to redouble its efforts, and to work in partnership with governments, to reach net zero. The united rallying call has been made by the CEO of the Global Cement and Concrete Association (GCCA), Thomas Guillot, together with the leaders of GCCA member companies, as they begin a major conference in Zurich.  Addressing ...