Indian Company UltraTech Cement Agrees to Buy Jaiprakash Cement Plants for $2.4 Billion.
UltraTech Cement said in a statement on Sunday that the deal will boost the company’s capacity by 33 percent and help it access new markets in six Indian states.
Expecting such developments in the country and aided by suitable government foreign policies, several foreign players such as Lafarge-Holcim, HeidelbergCement, and Vicat have invested in the country in the recent past. A significant factor which aids the growth of this sector is the ready availability of the raw materials for making cement, such as limestone and coal.
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