UltraTech Cement, which has acquired Jaypee Cement’s plants recently, has set foot in Andhra Pradesh with an aim to become the market leader in Coastal Andhra region.
UltraTech Cement Ltd. Managing Director K.K. Maheshwari formally launched the brand in the city on Wednesday.
Speaking on the occasion, Mr. Maheswari said, “Andhra Pradesh is a strategic market with huge potential for growth. With this, we will further strengthen our presence in the southern region.”
“Being a national player, we aim to become the market leader in new territory too. The market sale of cement in coastal Andhra Pradesh is about 10 million tonnes every month, and we aim to have a major share in it. Across the country, we have 20% market share and with the acquisition of Jaypee it goes up to 24 %, strengthening our presence,” he said.
RERA, GST
Speaking about the impact of recent government initiatives like Real Estate Regulation and Development) Act, GST and demonetisation on the cement industry, Mr. Maheswari said: “Over a period of time, this country has only progressed. Any particular thing (initiative) at a point of time has been considered as an interruption, but ultimately they proved to be good. We thought demonetisation would halt everything, but the country progressed. GST’s implementation is smooth,” he said.
UltraTech Cement which had a capacity of around 63 million tonnes acquired Jaypee’s six integrated plants and five grinding units in five States, including Andhra Pradesh, has enhanced the production capacity to 93 million tonnes per annum and also emerged as fourth largest player globally and largest in the country.
Dealers, sales promoters, architects, engineers and others have attended the launch event held in the city.