UltraTech Cement has lined up investment of Rs 1,500 crore in 2020-21 in multiple initiatives, chairman Kumar Mangalam Birla said on Wednesday.
The company is also planning to increase its annual capacity to 118 million tonnes from 114.8 million tonnes at present, he informed shareholders during a virtual annual general meeting.
Birla, who heads the diversified conglomerate Aditya Birla Group, said periods of turmoil create champions, adding that UltraTech has the capacity, leadership across markets and a strong balance sheet to emerge as one.
“Your company has planned total capex cash outlay of Rs 1,500 crore for a range of key initiatives,” he told shareholders.
This will include spends on installing 66 MW of waste heat recovery systems, a 1.2 million tonnes per annum brownfield cement capacity addition in Bengal and Bihar, pending work for phase 2 of Bara grinding unit in Uttar Pradesh, coal block development in Madhya Pradesh, new ready mix concrete plants and capital expenditure for other plant maintenance, he said.
