Coal news and updates

UltraTech acquires 3 units of Jaiprakash Associates

December 29: UltraTech Cement Limited, an Aditya Birla Group company, recently acquired three cement units of Jaiprakash Associates Limited in Madhya Pradesh, for Rs 5,400 crore, the company said in a statement.

The three plants include an integrated cement plant with clinker capacity of 2.1 million tons per annum (mtpa), a cement grinding capacity of 2.6 mtpa at Bela, an integrated cement plant with clinker capacity of 3.1 mtpa, cement grinding capacity of 2.3 mtpa at Sidhi, and an 180-MW thermal power plant of which 25 MW is located at Bela and 155 MW at Sidhi.

“This acquisition will create significant synergies and the surplus clinker will enable UltraTech to augment its cement capacity by a further 1.8-2.5 mtpa in addition to the 4.9 mtpa acquired from Jaiprakash Associates Limited. This acquisition will enable the company to increase its presence in the Satna cluster of MP. With this acquisition, the company’s cement capacity in India will increase from 60 mtpa to 65 mtpa and with projects underway, the capacity will stand raised to 71 mtpa by 2016,” the company statement said.