Leading cement maker UltraTech Cement Ltd said the company has acquired the cement grinding assets — amounting to 0.54 MTPA — of Burnpur Cement Ltd for Rs 169.78 crore.
The acquired facilities, situated in Patratu, Jharkhand, were secured in adherence to the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, along with the Security Interest (Enforcement) Rules, 2002.
This acquisition not only adds substantial capacity to UltraTech Cement's portfolio but also serves as a strategic entry into the promising market of Jharkhand. UltraTech Cement's total capacity in India now stands at an impressive 133 MTPA (million tonnes per annum), the company said.
Back in October this year, UltraTech announced a fresh investment of Rs 13,000 crore to add production capacity by 21.9 MTPA in the third phase of the growth, taking its total capacity to 182 MTPA after completion.
The board of the Aditya Birla Group flagship firm “approved the 3rd phase of growth with an investment of Rs 13,000 crore towards increasing the capacity by another 21.9 MTPA with a mix of brownfield and greenfield projects,” read a statement from the company.
The company has an existing capacity of 132.45 MTPA of domestic grey cement. "Post commissioning of the 3rd phase of expansion, approved by the Board, UltraTech will be strongly placed across the country with 35.5 MTPA in the south; 40.4 MTPA in the east; 36.2 MTPA in the north; 35.7 MTPA in central and 33.8 MTPA in the west," it added.
UltraTech Cement is the third largest cement producer in the world, outside of China, with a consolidated grey cement capacity of 137.85 MTPA right now.
