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UltraTech Cement production capacity is expected to touch 71 million tonnes (mt) by end of this fiscal from 65 mt with the acquisition of two cement units of JP Group and completion of its ongoing projects.
Apart from this, the company is likely to acquire a third unit of JP Group with a capacity of 2.2 mt at Bhilai. Both JP Group and UltraTech have approached SAIL for its nod as it holds 26 per cent stake in the plant.
Reacting to the development, the company in a statement said no proposal has reached the stage which would merit intimation to the shareholders. UltraTech has received shareholders approval to raise ₹9,000 crore through private placement of non-convertible redeemable debenture.
Addressing shareholders here on Friday, Kumar Mangalam Birla, Chairman, said despite slowdown in the rural economy leading to sluggish demand and lack of capital investment by both private and public sectors, the company had managed to sustain growth.
UltraTech, he said, augmented captive power capacity with the commissioning of 50 MW of thermal power plants and 22.5 MW through waste heat recovery.
This brings the total thermal power capacity to 717 MW and waste heat recovery at 33 MW.
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