India’s UltraTech Cement acquired Parli grinding unit

IndiaCements Parli Grinding

The Board of Directors of India’s UltraTech approved the acquisition of the Parli grinding unit in Maharashtra, from India Cements for Rs 315 crore. The unit has a capacity of 1.1 Mta along with a captive railway siding. Ultratech has signed an asset purchase agreement with India Cements for this transaction. According to a statement by the Aditya Birla Group, the acquisition is part of Ultratech’s expansion plan to improve its presence in Maharashtra’s growing market. The proposed brownfield expansion comprises 1.2 Mta in Parli and 1.8 Mta in Dhule with a planned investment of Rs 504 crore by FY 2025-26.