UltraTech Cement To Invest Additional Rs 32,400 Crore In Three Years

UltraTech Cement Ltd. has said it is committed to investing Rs 32,400 crore towards the ongoing capex over the next three years.

The cement company's ongoing expansion plan includes commissioning at 16 locations with a capacity of 35.5 Mtpa, an exchange filing said on Tuesday.

The company has also commissioned two new greenfield capacities, totaling 5.4 Mtpa, in Chhattisgarh and Tamil Nadu. After the commissioning, the capacity of the Aditya Birla Group flagship cement company will increase to 151.6 Mtpa.

The capacity is 150% of the capacity in the U.S. and 80% of Europe's capacity, it said.

The company is also in the process of closing the proposed acquisition of Kesoram Cement, which will further the grey cement capacity to 198.2 Mtpa.

In the past two decades, the company has grown 11 times, outperforming industry growth by four times. In the past year, it has expanded its capacity by 18.7 Mtpa, it said.

Shares of UltraTech Cement closed 1.01% higher at Rs 10,057 per share on Tuesday, as compared with a 0.04% decline in the Nifty 50.