UltraTech Cement in talks to buy northeastern plant

UltraTech Cement, the largest cement producer in India, is in talks to buy north-eastern cement producer Adhunik MPS Cement’s Meghalaya plant for over INR7bn., according to reports from the Economic Times (ET) of India.

The report said that the 1.5Mta cement facility will boost UltraTech Cement’s presence in the fast-growing but largely untapped northeastern market.

A multinational cement producer is also reported to be interested in the unit, the ET notes.