UltraTech Cement, India’s largest cement maker, is in talks to acquire a large limestone mine in Mozambique for about 1,500 crore. The negotiations between Aditya Birla group's company and the mine owner could subsequently result in the group building a 1-2 million tonne cement plant in the African country, where demand for building material has been growing at the rate of 8-9% annually.
The limestone mine is located in the Magude region in southern Mozambique near the capital city of Maputo and has reserves of more than 700-800 million tonnes of high grade limestone.
However, if the talks are successful, it would be the second time in less than a year that the Aditya Birla group would progress on building a green field plant overseas. The group recently announced its intention to spend $500 million to build a green field fibre plant in Turkey.
UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units - 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.