UltraTech Cement To Invest Rs 940 Cr To Increase Production
New Delhi: UltraTech Cement Ltd is planning to invest Rs 940 crore to augment its production of superior grade cement in order to strengthen its position in eastern markets. The company’s board has approved the increase of grinding capacities in West Bengal and Bihar. An new grinding unit will also be set up in Odisha.
"The board at its meeting held today approved capex of Rs 940 crore for making premium products with an increase in its grinding capacities in Bihar and West Bengal by 0.6 mtpa (million tons per annum) each and a new grinding unit of 2.2 million tonne in Odisha," UltraTech said in a statement.
All the new plants will be commissioned by first quarter of 2021.
It may be recalled that UltraTech had acquired Century Textile's cement business. After the acquisition, manufacturing capacity of UltraTech has gone up to 117.4 mtpa. This includes the overseas capacity of the company.