India’s Ultratech Cement acquires majority stake in Omani gypsum miner
Published: Tuesday, 04 November 2014
India’s requirement for gypsum in its expanding construction industry cannot be met by domestic production, due to a country-wide scarcity of the mineral. With this stake acquisition, Ultratech is looking further afield to ensure a low-cost supply of the cement feedstock material.
Ultratech Cement, Indias largest cement manufacturer,
has acquired a majority stake in Oman-based gypsum miner Awam
Minerals LLC via its subsidiary, Ultratech Cement Middle East
The 51% stake acquisition is likely related to an increase
in local cement demand, caused by...