UltraTech Cement commissions new plant in Madhya Pradesh; stock up 4%

Shares of UltraTech Cement have moved 4% higher to Rs 4,152 per share on the BSE, after the company announced commissioning of a greenfield clinker capacity of 2.5 million tonnes per annum capacity (mtpa) at Manawar, Dhar, Madhya Pradesh (MP).
UltraTech has commissioned a cement grinding facility with a capacity of 1.75 mtpa along with an auto loading facility. Another cement grinding facility with a capacity of 1.75 mtpa as well as a waste heat recovery system of 13 MW capacity is under construction and both are expected to be completed before September, 2018.

This new plant will provide a strategic advantage to UltraTech for serving the growing cement demand from the state of Madhya Pradesh's main industrial belt - the Dewas-Ratlam-Pithampur-lndore sector. It will also help the Company to increase its market share in a fast growing market. The Company will enhance its presence in the North markets, by re-allocating its capacities suitably, UltraTech Cement said in a press release.