UltraTech Cement has inked a memorandum of understanding (MOU) with Rajasthan State Industrial Development & Investment Corporation (RIICO) for commissioning of a railway project in Sikar and Jhunjhunu districts. As per the agreement, RIICO will acquire 67.812 hectares of land in Sikar and Jhunjhunu districts for the project.
The company will lay a 6 km railway siding from villages Kolida and Beri in Sikar district to the plant site in village Turkani in Jhunjhunu district. The company is setting up a 3 million tonnes cement project with an estimated investment of Rs 2,500 crore. The project, spread across 1,006 hectares, is likely to generate direct and indirect employment to 2,500 persons. This will be the third cement company in the last one year which has signed an agreement with RIICO for cement projects in the state.
Besides, UltraTech Cement’s production for the month of May 2011 has declined by 4.93% at 32.52 lakh million tonnes and dispatches dropped by 3.27% at 32.44 lakh million tonnes over May 2010.
For the April-May period, its cement production has slipped 4.79% at 64.89 lakh million tonnes as against 68.16 lakh million tonnes in the year-ago period. Dispatches during the period decreased 4.34% at 64.41 lakh million tonnes in April-May 2011 as against 67.33 lakh million tonnes during April-Feb 2010.
The company’s net profit after tax for the quarter ended May 31, 2011 zoomed by 218% at Rs 726.77 crore whereas the same was at Rs 228.54 crore for the quarter ended May 31, 2010. Total income jumped by 137.70% at Rs 4599.56 crore for the quarter under review, whereas the same was at Rs 1935.02 crore for the corresponding quarter of May 31, 2010.
| Company Name | CMP |
|---|---|
| Ultratech Cement | 11387.15 |
| Ambuja Cement | 500.70 |
| ACC | 2090.00 |
| Shree Cement | 24797.80 |
| Dalmia Bharat | 1807.10 |
| View more.. | |
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