Concrete

Ultratech offers to buy stake in RAK Cement Co

Published

11 months ago

June 13, 2024

Roshna

UltraTech Cement has announced its intention to acquire a 31.6 percent stake in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT).

This acquisition will be conducted through UltraTech’s fully owned subsidiary, UltraTech Cement Middle East Investments Ltd, based in the UAE. The offer period will be open from May 28 to June 24.

This follows UltraTech’s previous announcement of a $10.10 million (approximately `839.52 crore) investment to acquire a 29.39 percent equity share in RAK Cement Co.

UltraTech aims to utilise its expertise in white cement manufacturing to enhance RAK Cement’s business on a local, regional, and global scale.

RAK Cement Co, listed on the Abu Dhabi Stock Exchange and established in September 1980, reported a turnover of Rs.576.30 crore in 2023, reflecting a growth of over 7 percent compared to the previous year.

Its turnover was Rs.537.40 crore in 2022 and Rs.482.50 crore in 2021.

UltraTech Cement, with a consolidated capacity of 138.39 MTPA of grey cement, operates 23 integrated manufacturing units, 29 grinding units, one clinkerisation unit, and 8 bulk packaging terminals.

Up Next

100km pavement construction coming up in Chennai

Don't Miss

ICRA predicts continued consolidation of Indian cement industry

Concrete

UltraTech Cement boosts capacity with new clinker line

Published

3 weeks ago

April 21, 2025

admin

UltraTech Cement has commissioned a 3.35 million tonnes per annum (Mt/yr) brownfield clinker line and one of two 2.7Mt/yr cement grinding mills at its Maihar facility in Madhya Pradesh. The second mill is expected to be operational in Q1 of FY2026. The company has also expanded its Dhule (1.2Mt/yr) and Durgapur (0.6Mt/yr) grinding units and inaugurated its first bulk terminal in Lucknow with a 1.8Mt/yr handling capacity.

Concrete

Ambuja Cements gets a new CEO

Published

3 weeks ago

April 21, 2025

Roshna

Ambuja Cements has named Vinod Bahety as its CEO for a three-year term, following Ajay Kapur’s elevation to Managing Director. Bahety, formerly the company’s CFO, brings over 25 years of experience in finance and manufacturing, including a previous role as Group Head of M&A at Adani Group. Other key appointments include Rakesh Tiwary as CFO, Madhavi Isanaka as Chief Digital Officer, Vaibhav Dixit as Manufacturing Head, and Ashwin Raikundaliya as Chief Sustainability Officer.

Image source:www.exchange4media.com

Concrete

‘Sabse Khaas Pehelwan’ by Nuvoco

Published

3 weeks ago

April 21, 2025

admin

Nuvoco Vistas Corp has introduced Nuvoco Duraguard Cement ‘Sabse Khaas Pehelwan’, a one-of-a-kind wrestling championship aimed at honouring and nurturing Haryana’s proud wrestling legacy. The initiative offers budding wrestlers an opportunity to compete at a professional level, gain visibility and represent their districts in a prestigious state-wide competition. ‘Seedhi Baat Hai, Duraguard Khaas Hai’ is aligned with Nuvoco’s brand philosophy.