Ambuja Cement on Friday announced that it has placed orders to expand its clinker capacity by 8 million tonnes. The capacity expansion will take place at Bhatapara and Maratha units on highest ESG standards with 42 MW of WHRS, provision to utilize 50 percent AFR and provision to operate on green power.

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The Adani Group’s cement and building material company has said that the capacity expansion projects will enable production of Blended Green Cement of 14 million tonnes, post all requisite approvals. These projects will generate substantial value to the existing business and enable more employment and growth opportunities in the states, beneficial for all stakeholders.

The company says that these projects are expected to be commissioned in 24 months and the CAPEX will be funded from internal accruals.

"These brownfield expansion projects are part of our strategy to double our production capacity over the next five years from the current capacity of 67.5 MTPA. Our ongoing investments in capacity expansion and sustainability will enable us to achieve our long-term objectives, as we remain committed to delivering sustainable growth and value to our stakeholders,” says Ajay Kapur, CEO of Cement Business at Ambuja Cement.

Besides, earlier on May 2, 2023, Ambuja Cements reported a standalone profit of Rs 502.4 crore for the fourth quarter ended March 31, 2023, up 1.5 percent, against Rs 495 crore posted in the corresponding quarter last financial year. The cement manufacturer’s standalone revenue grew by 8.4 percent at Rs 4,256.3 crore against Rs 3,925 crore posted last year.

In addition, Ambuja Cements has been declared as the ‘Preferred bidder’ for the Devalmari Katepalli Limestone Block in an e-auction conducted by the Maharashtra Government. The block is situated in Gadchiroli District, Maharashtra over an area of approx. 538 hectare with estimated limestone resource of about 150 million tonnes having Calcium Oxide (CaO) content of more than 42 percent.

The cement manufacturer shall get the statutory licenses and permits related to mining operations to be declared a ‘successful bidder’ and subsequently enter into a ‘Mine Development and Production Agreement (MDPA)’ with Government of Maharashtra to commence the mining operation.

Ambuja Cement, with its subsidiary ACC Ltd, has a capacity of 67.5 million tonnes with fourteen integrated cement plants and sixteen cement grinding units across the country.

The stock is trading flat on the exchanges on Friday at 1:30pm.

(Edited by : Vahishta Unwalla)