UltraTech Cement to raise around $100 million from IFC

04 Feb 2013 Evaluate

UltraTech Cement, part of Aditya Birla Group (ABG), is considering raising around $100 million from the International Finance Corporation (IFC). The proposed fund raising is to back the company's investment plan of around $297 million at Rawan village in Chhattisgarh. The company is existing client of IFC in India, Egypt, Thailand and Indonesia.

The project, involves clinker production capacity expansion at Ultratech's integrated cement plant in Chhattisgarh. Moreover, IFC has already begun working with UltraTech for discovering resource efficiency opportunities for the Company to further reduce its carbon footprint. In addition, IFC is exploring the possibility of providing UltraTech with various advisory services in areas as alternative fuel usage as well as corporate social responsibility initiatives.

UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.

Ultratech Cement Share Price

11424.70 -250.15 (-2.14%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
Ultratech Cement 11424.70
Ambuja Cement 548.85
ACC 2064.45
Shree Cement 27062.45
Dalmia Bharat 1803.00
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.