UltraTech acquires majority stake in Awam Minerals

UltraTech acquires majority stake in Awam Minerals

UltraTech Cement Middle East Investments, a wholly owned subsidiary of India´s UltraTech Cement, has acquired a majority stake (51 per cent) in Omani gypsum mining firm Awam Minerals LLC. Awam Minerals has a license to mine substantial gypsum deposits in the south of Oman. It´s gypsum mining license will serve as a captive mine for the network of cement plants owned by UltraTech Cement in India, two grinding units and a cement plant in the UAE, as well as a grinding unit in Bahrain through its Middle East subsidiary.

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