Through a combination of greenfield and brownfield expansions, UltraTech solidifies its leadership in the Indian cement market
In 2004-05, UltraTech Cement embarked in an expansion campaign that elevated its installed capacity from 15.5 million tons per annum at the time to 66.2 million tons by 2015-16, making it the largest cement producer in India, ahead of LafargeHolcim’s Indian business, including ACC and Ambuja Cement.
However, the company has not stopped there, having concluded a series of new investments in both brownfield and greenfield expansions since 2017, including the acquisition of the cement divisions from Jaiprakash Cement and Century Textiles, the bid for Binani Cement, and two new cement projects in Rajasthan and Madhya Pradesh.
Taking over Jaiprakash Cement
During 2017, UltraTech took part in the largest consolidation ever seen in the Indian cement market, by taking over the cement business of Jaiprakash Associates. The company paid INR 16.19 billion for six integrated cement plants and five grinding units across the states of Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand, and Andhra Pradesh.
Including a grinding unit under construction in Uttar Pradesh, the assets bought by UltraTech from Jaiprakash have the capacity to produce 21.2 million tons per annum, reinforcing the company’s presence in Central India.
Read the full article in ICCM 42
Photo Credit: UltraTech Cement