The expansion will be funded by internal resources, according to the exchange filings by the company.
Read More: Gold Rate Rises In India On October 29: Check Latest Price Trends In Your City Now
CHENNAI: UltraTech Cement has announced the third phase of investment of Rs 13,000 crore towards increasing the capacity by another 21.9 million tonnes per annum (MPTA). The Board of Directors at its meeting on Saturday approved the investment, which would take the total domestic capacity from 132.45 MTPA to182 MTPA.
UltraTech plans to set up 4 greenfield and 4 brownfield plants along with 4 greenfield bulk terminals. Commercial production from these new capacities is expected to complete in a phased manner from 2026 financial year. The expansion will be funded by internal resources, according to the exchange filings by the company. UltraTech cement has a target of reaching a capacity of 200 million tonnes.
Read More: ‘Axis Bank aims to augment small-ticket loans’
Over the past seven years, UltraTech has strategically invested over Rs 50,000 crores, said Kumar Mangalam Birla, Chairman of Aditya Birla Group.
“Our fresh commitment of Rs 13,000 crores underscores our deep-rooted belief in India’s economic potential. With each investment, we have not only expanded our footprint but also powered India’s needs for housing, roads, and other vital infrastructure,” he was quoted as saying.
Read More: Bank of Baroda offers zero balance ‘bob LITE Savings Account’ with lifetime-free credit, debit cards
With this round of capex UltraTech reinforces its position as one of the largest cement firms in the world, he added.
