Team Blitz India
NEW DELHI: UltraTech Cement, an Aditya Birla Group company, will acquire a 1.1 million tonne per annum grinding unit and captive railway siding at Parli in Maharashtra from India Cements for Rs 315 crore. Both companies have entered into an agreement to execute the transaction.
The Board of Directors of UltraTech Cement approved the deal at its meeting held on April 20 said the company at its meeting. After the acquisition, UltraTech will expand the grinding capacity at Parli by 1.2 mtpa with an investment of Rs 166 crore.
The purchase of the asset will help the company to strengthen its presence in the rapidly growing Maharashtra markets, it added.
UltraTech will also expand capacity at its Dhule plant in Maharashtra by 1.8 mtpa with an investment of Rs 338 crore.
The brownfield expansions will be funded through internal accruals and completed by FY’26.
