UltraTech Cement approved a US$1.5bn capacity expansion plan this week. The initiative intends to add 21.9Mt/yr in production capacity by setting up four new cement plants, four upgrades and four new terminals. It will also add 39MW in waste heat recovery (WHR) units and alternative fuels feeding and handling investments. Commercial production at the new
Ratings agency ICRA says that the cement industry in India will reach a renewable energy reliance of 40% across its operations in the 2025 financial year. The Hitavada newspaper has reported that this will involve the construction of 537MW-worth of new renewable power capacity. During the 2023 financial year, which ended on 31 March 2023,
Adani Group and JK Lakshmi Cement were reported to be leading the race to acquire Sanghi Cement this week. The Economic Times newspaper reported sources who said that both companies are about to start due diligence processes ahead of making formal offers in the next few months. The enterprise value of Gujarat-based Sanghi Cement is around