UltraTech acquires 51% stake in Awam Minerals

According to local press reports, UltraTech Cement Middle East Investments, a subsidiary of UltraTech Cement, has acquired a 51% stake in Omani mining company Awam Minerals LLC. The purchase highlights Oman’s growing strategic importance as a source of gypsum for the Indian cement industry.

Awam Minerals has a license to mine substantial gypsum deposits in the south of Oman, which will serve as a captive mine for UltraTech Cement’s huge network of plants. The company owns and operates around 12 composite plants, one white cement plant and 16 grinding units in India, which have a combined capacity of approximately 62 million tpa. The cement giant also operates two grinding units and a clinkerisation plant in the UAE, as well as a grinding unit in Bahrain, through its Middle Eastern subsidiary.

Edited from various sources by Rosalie Starling

Sources

• Zawya
• MENA FN
• Industrial Minerals

Read the article online at: https://www.worldcement.com/africa-middle-east/05112014/ultratech-acquires-51-percent-stake-in-awam-minerals-794/