Rajasthan will soon get new cement by Aditya Birla group firm UltraTech Cement. To build this plant, an investment of Rs 1,850 crore is proposed. This plant will start production by June 2020. Well.. this project will help in bringing more employment to the state. Considering the production capacity of plant, it can produce 3.5 million tonnes per annum at Pali in Rajasthan.
Why is Rajasthan chosen by UltraTech cement?
The foremost reason to choose Rajasthan is Rajasthan is also the highest cement consuming state in the north zone. This new plant will help in expanding market reach especially in Western Rajasthan. Now, UltraTech will have a foot print across the country with 50 plant locations.
Other developments with this expansion for UltraTech
There is also approval for increasing the investment limits by RPFI, including FIIs. Earlier, the existing limit of paid-up equity share capital is 30 per cent. Now, this limit has been increased up to 40 per cent of the paid-up equity share capital of the company. This would make availability of more space for registered foreign portfolio investors (RPFI) to invest into the equity of the company.
