Aditya Birla Group’s UltraTech Cement Ltd. stated its board had accredited the acquisition of a 1.1 million tonne each year (mtpa) grinding unit and captive railway siding at Parli, Maharashtra, for ₹315 crore from India Cements Ltd.
Each firms have entered into an settlement for executing the transaction, UltraTech stated in a press release.
After acquisition, UltraTech additionally plans to broaden the unit’s capability by 1.2 mtpa investing ₹166 crore.
This buy “will assist the corporate strengthen its presence within the quickly rising Maharashtra markets,” Ultratech stated.
UltraTech additionally plans to broaden its Dhule, Maharashtra plant by 1.8 mtpa by investing ₹338 crore.
Each brownfield expansions shall be funded by way of inside accruals.
