Ultratech buys India Cement grinding unit

(20 second reading) Ultratech Cement has approved the purchase of a grinding unit at Parli, Maharshtra from India Cement for a sum of Rs 315 crore.
The Parli unit of India Cement has an installed capacity of 1.1 mtpa in addition to a captive railway siding
Ultratech has entered into an asset purchase agreement with India Cement for the aforesaid transaction. The purchase will help the Company to strengthen its presence in the rapidly growing Maharashtra markets.The acquisition is part of Ultratech’s brownfield capacity expansion plan, whereby it targets to add 3 mtpa additional capacity by the financial year 2025-26.