UltraTech Cement ventures into cables with Rs 1,800 cr investment plan

UltraTech Cement has announced its entry into the wires and cables segment. The company will invest Rs. 1,800 crore to establish a plant in Gujarat over the next two years as part of its expansion in the construction value chain.

UltraTech Cement will establish a plant near Bharuch, Gujarat, with commissioning expected by December 2026, the company said in a statement. The board of the Aditya Birla Group firm has approved the expansion into the construction value chain under its Building Products Division.

UltraTech Cement has announced plans to tap into the growing demand for wires and cables across residential, commercial, infrastructure, and industrial sectors. The company noted that the wires and cables market has seen a revenue CAGR of approximately 13% between FY19 and FY24. With an ongoing shift from unorganised to organised players, UltraTech sees a strong growth opportunity and aims to position itself as a key player in the segment.

Kumar Mangalam Birla, chairman, Aditya Birla Group, stated, "We intend to expand our presence in the construction value chain through our foray in the cables and wires segment, which aligns with our vision of providing comprehensive solutions to our end customers in the construction sector. Obviously, we will continue to focus and grow our core Cement business. This year UltraTech reached a new milestone of crossing 175 mtpa of cement capacity in India and is likely to emerge as the largest cement company globally (by sales volume ex-China). UltraTech remains committed to delivering superior quality building materials and solutions that contribute to the sustainable development of a Viksit Bharat.”