UltraTech plans $875 mn investment as a part of growth plan

UltraTech Cement plans to invest $875 million as a part of its growth goals, which will increase the company's overall cement capacity by 19.8 mt per year. After the expansions, the company's capacity will rise to 136.3 mt per year, cementing its position as the world's third-largest cement producer outside of China. Chairman Kumar Mangalam Birla said that the company generated net revenues of US$6.0 billion in the fiscal year 2021 and that the Indian cement sector was poised for rapid growth. Birla told the media that with the national infrastructure pipeline projects, the fiscal stance appears to be poised for an increase in government capital expenditure in the coming years. The three factors of a cyclical upswing, a better global backdrop, and favourable policy impulses are likely to align in the medium term, positioning India for a virtuous cycle of growth and investment. UltraTech Cement Limited is a Mumbai-based Indian cement company. The Aditya Birla Group, an Indian multinational conglomerate, owns it. With an installed capacity of 116.75 mt per annum, Ultratech is India's largest manufacturer of grey cement, ready mix concrete (RMC), and white cement and outside of China, this is the world's only company with a capacity of over 100 million tonnes (mt) in a single country. UltraTech's white cement is marketed under the Birla White brand. It has two wall care putty plants with a combined capacity of 0.85 mtpa and a white cement plant with a capacity of 0.68 mtpa. Image Source Also read: UltraTech Cement’s net revenue at Rs 1,700 crore in Q1 FY22