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UltraTech acquires cement grinding assets of Burnpur Cement in Jharkhand

Thursday, 30 Nov 2023
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Aditya Birla group firm UltraTech Cement has acquired the cement grinding assets of Burnpur Cement in Jharkhand for Rs 169.79 crore. The company has acquired 0.54 million tpa cement grinding assets of Burnpur Cement, located at Patratu in Jharkhand.

The acquisition has been carried out for Rs 169.79 crore in terms of the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 read with the Security Interest (Enforcement) Rules, 2002. The investment marks the company's entry into Jharkhand. 

With this, the company's capacity in India now stands at 133 million tpa.

Last year state-owned Punjab National Bank (PNB) had invited bids from asset reconstruction companies (ARCs) to recover loans outstanding of over Rs 50 crore for the loss-making Burnpur Cement.

 
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