Kumar Mangalam Birla, Chairman of Aditya Birla, has reportedly announced plans to invest INR27.5 billion in a 4 million tpa cement plant in Karnataka. Birla informed reporters at the Karnataka Global Investors Meet in Bangalore that the cement plant is expected to begin operating within the next two years. The plant forms part of Aditya Birla Groups’s plans to invest around U$1.3 billion in capacity expansions and new cement, metal and chemical facilities in Karnataka.
Aditya Birla owns UltraTech, which operates 22 cement plants in India and currently has a production capacity of 48.75 million tpa. UltraTech Cement’s sales volumes grew 10.57% y/y in May, whilst its production levels increased by 7.69% y/y.
Edited from various sources by Louise Fordham.