Ultratech Cement Ltd (Birla Group) has signed a Memorandum of Understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation (Riico) for setting up a Rs 2,000- crore cement project in Jhunjhunu district, Rajasthan. The cement plant will have an annual installed capacity of 3 mt and will generate direct and indirect employment. The plant will be set up on 1,006 hectares (approximately) of land.