Advertisement

HindustanTimes Fri,18 Apr 2014

UltraTech Cement exports to remain flat for next few years: Birla

PTI  Mumbai, September 02, 2012
First Published: 10:03 IST(2/9/2012) | Last Updated: 10:12 IST(2/9/2012)

With robust domestic demand, cement major UltraTech Cement said it is planning to keep its exports flat for the next few years.

Advertisement

"We want to focus on the domestic market. Our export growth over the next few years will remain flat," company chairman Kumar Mangalam Birla said.

Last year, the Birla group company's exports stood at around Rs. 371 crore.

"The outlook for the cement industry remains challenging, but we are bullish on the sector. We expect a boost in the domestic market as the infrastructure and construction industry is poised to grow in the coming years," he said.

At present, he said, there is a demand-supply mismatch.

"With the industry's proposed capacity expansion of around 71 million tonne between FY13 and FY15, it will be no different for the next 2-3 years. I believe the short term prospects for the industry appear bearish. Regardless, over the medium to long term, the sector offers good growth potential," Birla said.

The company has also embarked on a Rs. 12,000 crore expansion plan to increase its capacity to 62 million tonne by FY14.

UltraTech is currently developing clinkerisation plants at Chhattisgarh and Karnataka together with grinding units as well as bulk packaging terminals and ready mix concrete plants, besides a waste-heat recovery system.

"These expansions will increase the company's capacity by 10.2 million tonnes per annum (MTPA) to 62 MTPA," he said.

The total capex under implementation for these projects is around Rs. 12,000 crore, which will be funded through a judicious mix of internal accruals and borrowings, Birla added.

Advertisement
more from Business

Glenmark pulls 2,900 bottles of ulcer drug in US

India's Glenmark Pharmaceuticals Ltd is recalling some  2,900 bottles of its stomach ulcer drug ranitidine in the United States after a foreign tablet was found in one of the bottles.

markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved