UltraTech Cement has entered into Share Subscription and Shareholders Agreement to acquire 26% equity shares of Clean Max Terra, a company engaged in generation and transmission of renewable energy. The acquisition is for the purposes of meeting the Company’s green energy needs, optimising energy cost and comply with regulatory requirements for captive power consumption under electricity laws.
Earlier, the company had acquired a 0.54 mtpa cement grinding assets of Burnpur Cement, located at Patratu in Jharkhand at a consideration of Rs 169.79 crore in terms of the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002.
UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.
