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News Grasim Industries to invest US$870m into cement business

Grasim Industries to invest US$870m into cement business

Written by Global Cement staff 28 May 2018
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India: Grasim Industries plans to invest up to US$870m in its cement business by the end of 2021. The subsidiary of Aditya Birla that also operates UltraTech Cement, wants to modernise its existing cement plants, carry out environmental upgrades and increase the production capacity of the units it acquired from Jaiprakash Associates, according to the Mint newspaper.

Aditya Birla Group’s chief financial officer Sushil Agarwal said that the company wants to increase the capacity utilisation rate of the former Jaiprakash Associates cement plants to over 85%, the standard level for the other UltraTech Cement plants. He added that on average cement plants in India have a capacity utilisation rate of 75%.

Last modified on 30 May 2018
Published in Global Cement News
Tagged under
  • India
  • Grasim Industries
  • Aditya Birla
  • UltraTech Cement
  • Expansion
  • Investment
  • Capacity utilisation
  • GCW355
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