10/7/2024, 7:55:03 pm

Ultratech acquires additional 25 percent in UAE-based RAK Cement

Ultratech Cement's subsidiary, UCMEIL, has acquired an additional 25% stake in RAKWCT for an undisclosed amount, increasing its stake to 54.39%. This follows recent acquisitions, including a 23% stake in India Cements for Rs 1,885 crore. Ultratech aims to increase its capacity to 200 million tonnes PA over the next 3-4 years, amid consolidation efforts in the Indian cement sector.