UltraTech Cement plans to build terminal at Mumbai Port

21 Oct 2013 Evaluate

UltraTech Cement, part of Aditya Birla Group (ABG), is planning to build a terminal at the Mumbai Port to transport cement from its plants in Gujarat into Mumbai. This new terminal will cut logistics costs as movement by ships is much cheaper than by road, which costs three times more. For this terminal, the company has received a land area of 2.5 hectares on lease for 30 years against an upfront payment of Rs 35 crore and a guaranteed flow of traffic through the Mumbai Port. The facility has a capacity of 1.25 million tonnes.

Recently, the company has reported sharp decline in its standalone net profit, the biggest drop since 2010 largely because of lower selling prices and subdued demand. The company has reported 51.98% fall in its net profit at Rs 264.11 crore for the second quarter ended September 30, 2013 as compared to Rs 550.03 crore for the same quarter in the previous year.

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.

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7186.00 21.70 (0.30%)
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