This comes close on the heels of the company launching its brand in Vijayawada recently.
Visakhapatnam: After the acquisition of Jaypee Cement plants in June this year, UltraTech Cement, India’s leading cement manufacturer, on Wednesday formally launched its brand in Visakhapatnam to strengthen its footprint in new markets of Coastal Andhra Pradesh.
This comes close on the heels of the company launching its brand in Vijayawada recently. “This move is essentially for geographic market expansion, enabling UltraTech’s entry into the high growth markets of India where it needed greater reinforcement,” said Kumar Mangalam Birla, the chairman of UltraTech, in a video message.
Balaji cement plant, which was under Jaypee, would now cater to the demands in coastal Andhra Pradesh. UltraTech Cement, which had a cement production capacity of around 63 million tonnes, had added another 21.2 million tonnes capacity with the acquisition of Jaypee’s cement plants.
After the commissioning of its new plant, UltraTech would emerge as the fourth largest cement player globally (excluding the Chinese players) with a total capacity of 93 million tonnes per annum and the largest player in India by an even larger margin.
Speaking on the occasion, UltraTech Cement MD K.K. Maheshwari said, “The strategic launch at Visakhapatnam strengthens our foothold in the southern region. With the benefit of Jaypee Cement’s reputable stronghold in the southern market, UltraTech Cement is geared up to propel its initiatives across the region and help build beautiful in Visakhapatnam.”
“The strengthened processes and upgraded technologies will aid UltraTech Cement to attain remarkable growth in market share in Visakhapatnam and neighbouring towns of coastal Andhra,” he added.