Aditya Birla Group’s company, UltraTech Cement has reportedly signed a memorandum of understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO). The MoU was for the commissioning of a railway project in the Sikar and Jhunjhunu districts.
RIICO's Managing Director Rajendra Bhanawat and UltraTech Cement Ltd Assistant Vice President Rakesh Misra signed the agreement, which sees RIICO acquiring 67.812 hectares of land in the Sikar and Jhunjhunu districts for the railway construction.
According to statements from the company, a 6 km railway siding from villages Kolida and Beri in the Sikar district to the plant site in the Turkani village in the Jhunjhunu district is being planned. The company is setting up a 3 million tpa cement project, spreading across 1006 hectares. With an estimated investment of Rs.2500 crore, the project is expected to generate employment for up to 2500 people.
According to industry sources, UltraTech will be the third cement company in the last year to sign an agreement with RIICO for cement projects in the state.
UltraTech, which has a capacity of 52 million tpa, manufactures and markets ordinary Portland cement, Portland blastfurnace slag cement, Portland pozzalana cement, ready mix Concrete, white cement and wall care putty. The company has 11 integrated plants, one white cement plant, one clinker plant in the UAE, 15 grinding units – 11 in India, two in the UAE, one each in Bahrain and Bangladesh and five terminals – four in India and one in Sri Lanka.
UltraTech is India’s largest exporter of cement clinker with business interest in countries around the Indian Ocean, Africa and the Middle East.
The company has posted low net sales of Rs13 210 crores in the last fiscal year, as compared to Rs.13 442 crores in FY 10.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/02062011/ultratech_cement_signs_mou_for_the_commissioning_of_a_railway_project/