H.M. Bangur, managing director of Shree Cement. Citing the example of Star Cement, which was taken over by UltraTech Cement Ltd in 2010, Kotak’s research report said the Abu Dhabi-based Star Cement has not had any “significant growth” in the past three years. It continued until recently, but now the economy in West Asia is showing signs of recovery, according to Jajoo. Besides producing 4 million tonnes of cement a year, the company produces 3.3 million tonnes of clinker, the key ingredient of cement. In India, Shree Cement produces 29.3 million tonnes a year, and is looking to scale up its production capacity to 40 million tonnes within two years.

Source: Mint January 14, 2018 18:56 UTC