Ultratech Cement to invest Rs 11,000 crore
Ultratech Cement has proposed to invest Rs 11,000 crore to increase its production capacity by 10 mtpato 62 mtpa by the first quarter of 2013-14 fiscal, in a letter to shareholders. "The company has a capital outlay of Rs 11,000 crore to be spent over the next three years ... Orders have been placed for major equipment. These expansions are expected to be operational by Q1 FY14," the company said. Ultratech will invest in clinkerisation plants through brownfield expansions at Chhattisgarh and Karnataka, installing waste-heat recovery systems, instituting bulk packaging terminal and setting up of ready-mix concrete plants. The expansion is being funded through a mix of internal accruals and borrowings.