UltraTech Cement is all set to acquire 18.40 million tonne per annum (mtpa) of cement capacity from Jaiprakash Associates (JP Associates) for an enterprise value of Rs 16,500 crore. UltratTech will invest an additional Rs 470 crore to complete an ongoing project to set up 4 mtpa of grinding units. The deal will catapult UltraTech’s capacity to 90.7 mtpa from the current 68.3 mtpa, making it one of the top cement producers in the world.
Kumar Mangalam Birla-owned company will acquire the cement plants with a total capacity of 22.4 mtpa in Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Andhra Pradesh and Karnataka.
UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement.