India Cements sells land to UltraTech
Cement

India Cements sells land to UltraTech

N. Srinivasan-led The India Cements Ltd (ICL) has entered into an agreement with UltraTech Cement Ltd to sell 73.75 acres of land in Andhra Pradesh's Vizianagram district for Rs 700 million. This move is part of ICL's strategy to enhance liquidity, improve operational performance, and meet essential capital expenditure requirements.

As part of the deal, 14.53 acres of land will also be included in the transaction. Last year, India Cements sold its limestone mining subsidiary, Springway Mining (SMPL), to JSW Cement for Rs 4.76 billion. This subsidiary owned limestone-rich land in Madhya Pradesh, where a cement plant was being established. The sale reflected the challenges faced by the largest cement producer in southern India.

To modernise and enhance the efficiency of its plants, ICL has engaged FLSmith and ThyssenKrupp Industries to conduct a comprehensive assessment of their operating parameters. Additionally, the company has enlisted the services of Boston Consulting Group to analyse and suggest efficiency improvements for three of its plants located in Andhra Pradesh and Telangana.

The company's older plant facilities have limited production efficiency, and the sale of non-core assets is aimed at bolstering cash reserves to fund plant upgrades. Meanwhile, the Udaipur tehsildar confirmed that around 250 people met with local authorities, handing over a memorandum with an ultimatum. This memorandum is addressed to the Chief Minister and the Deputy Chief Minister of Chhattisgarh, and it highlights their concerns about potential job loss in the event of mine closures. The protesters also staged a demonstration on the national highway. The tehsildar pledged to forward the memorandum to the relevant authorities for appropriate action.

On a broader scale, Rajasthan Chief Minister Ashok Gehlot has persistently written letters to his Chhattisgarh counterpart, Bhupesh Baghel, urging expedited granting of the necessary clearances for PEKB phase II. Gehlot has emphasised that Rajasthan is grappling with a severe power crisis due to the unavailability of coal required to operate its thermal power plants. Although the Chhattisgarh government had previously granted clearance for the second phase of coal mining in Parsa East Kanta Basan (PEKB) in Surguja district, the crucial permission for tree cutting for mining is still pending. This has led to a precarious situation where thousands of livelihoods hang in the balance.

N. Srinivasan-led The India Cements Ltd (ICL) has entered into an agreement with UltraTech Cement Ltd to sell 73.75 acres of land in Andhra Pradesh's Vizianagram district for Rs 700 million. This move is part of ICL's strategy to enhance liquidity, improve operational performance, and meet essential capital expenditure requirements. As part of the deal, 14.53 acres of land will also be included in the transaction. Last year, India Cements sold its limestone mining subsidiary, Springway Mining (SMPL), to JSW Cement for Rs 4.76 billion. This subsidiary owned limestone-rich land in Madhya Pradesh, where a cement plant was being established. The sale reflected the challenges faced by the largest cement producer in southern India. To modernise and enhance the efficiency of its plants, ICL has engaged FLSmith and ThyssenKrupp Industries to conduct a comprehensive assessment of their operating parameters. Additionally, the company has enlisted the services of Boston Consulting Group to analyse and suggest efficiency improvements for three of its plants located in Andhra Pradesh and Telangana. The company's older plant facilities have limited production efficiency, and the sale of non-core assets is aimed at bolstering cash reserves to fund plant upgrades. Meanwhile, the Udaipur tehsildar confirmed that around 250 people met with local authorities, handing over a memorandum with an ultimatum. This memorandum is addressed to the Chief Minister and the Deputy Chief Minister of Chhattisgarh, and it highlights their concerns about potential job loss in the event of mine closures. The protesters also staged a demonstration on the national highway. The tehsildar pledged to forward the memorandum to the relevant authorities for appropriate action. On a broader scale, Rajasthan Chief Minister Ashok Gehlot has persistently written letters to his Chhattisgarh counterpart, Bhupesh Baghel, urging expedited granting of the necessary clearances for PEKB phase II. Gehlot has emphasised that Rajasthan is grappling with a severe power crisis due to the unavailability of coal required to operate its thermal power plants. Although the Chhattisgarh government had previously granted clearance for the second phase of coal mining in Parsa East Kanta Basan (PEKB) in Surguja district, the crucial permission for tree cutting for mining is still pending. This has led to a precarious situation where thousands of livelihoods hang in the balance.

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?