Cement News tagged under: UltraTech Cement
UltraTech's sales rise 6% YoY in 3QFY23-2402 January 2024, Published under Cement NewsUltraTech 's consolidated sales rose by six per cent per cent to 27.32Mt YoY in the third quarter ended 31 December 2023. Aditya Birla Group , UltraTech's parent company, announced in a regulatory filing that total sales volume in the domestic market was up five per cent YoY to 26.06Mt during the quarter under review. The company's domestic grey cement production was at 25.44Mt in the October-December 2023 quarter, reporting five per cent growth YoY, while its white cement production wa... |
UltraTech Cement acquires 26% stake in Clean Max Terra29 December 2023, Published under Cement NewsUltraTech Cement has entered into a share subscription and shareholders agreement to acquire 26 percent equity shares of renewable energy company Clean Max Terra. The equity investment is up to INR202.5m (US$2.44m). Clean Max Terra, based in Mumbai, India, is a special purpose vehicle to set up 50MW AC/75MW DC solar power project on a captive basis in Saraipali Village, Mahasamund district, Chhattisgarh. The mostepve is part of UltraTech Cement’s strategy to meet its green power target ... |
UltraTech targets 85% green power by 203014 December 2023, Published under Cement NewsUltraTech Cement aims to increase the share of green energy in its total energy mix from the current 22 to 60 per cent by FY25-26 and 85 per cent by 2030. According to its Managing Director, KC Jhanwar, the company has been consistently scaling up the green energy mix in its total power requirement over recent years with the aim of meeting its entire electricity requirement from renewable sources by 2050. To help meet this target, UltraTech has invested in a number of new initiatives ... |
UltraTech Cement to acquire Kesoram Industries Ltd's demerged cement business01 December 2023, Published under Cement NewsKesoram Industries Ltd has decided to demerge its cement business and has approached UltraTech Cement Ltd in relation to the same. The Board of Directors of UltraTech, after considering the recommendation and report of the Audit Committee and the Committee of Independent Directors, at its meeting held on 30 November 2023, considered Kesoram’s proposal and have approved a Composite Scheme of Arrangement to demerge Kesoram's cement business into Ultra Tech Cement. |
Burnpur Cement Ltd acquisition increases UltraTech Cement's capacity30 November 2023, Published under Cement NewsUltraTech Cement has acquired a 0.54Mta cement grinding assets of Burnpur Cement Ltd, located at Patratu in Jharkhand, India, at a consideration of INR169,790m. This investment marks the company’s entry in the state of Jharkhand. With this acquisition, UltraTech Cement's capacity in India now stands at 133Mta. |
UltraTech Cement eyes up Kesoram Industries27 November 2023, Published under Cement NewsUltraTech Cement has reportedly expressed an interest in acquiring Kesoram Industries and is already carrying out due diligence on the company. According to CNBC, UltraTech is exploring two options: buying out the existing promoter or just acquiring the cement business of Kesoram. Kesoram currently operates in two markets, cement and rayon, with a cement production capacity of close to 10Mta across Karnataka and Telangana . Current shareholders in Kesoram Industries are the existi... |
UltraTech Cement and Adani Cement alerted to Heidelberg's Indian divestment rumour05 October 2023, Published under Cement NewsUltraTech Cement ( Aditya Birla Group ), and the country’s second-largest cement producer, Adani Cement, may join the race along with Parth Jindal-led JSW Cement to acquire Heidelberg Material’s Indian operations, reports The Hindu. Heidelberg Materials has a cement manufacturing capacity of 13.4Mta across its Indian plants in Damoh (Madhya Pradesh), Yerraguntla (Andhra Pradesh), Sitapuram (Telangana), Ammasandra (Karnataka), Jhansi (Uttar Pradesh), Sholapur (Maharas... |
CEMEX and Star Cement collaborate to recycle concrete waste03 October 2023, Published under Cement NewsCEMEX 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 Ltd22 September 2023, Published under Cement NewsUltraTech 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 AGM14 August 2023, Published under Cement NewsIn 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 ... |