UltraTech Cement mandates SMBC for loan, India

UltraTech Cement Ltd has awarded a sole mandate to Sumitomo Mitsui Banking Corp for a syndicated loan, sources said.

One source said the deal size is between US$50m and US$100m. Timing of any potential syndication is not determined yet.

Ultra Tech Cement is part of the Aditya Birla Group. It is the country's largest cement maker, with a capacity of 48Mt which it is increasing to 62Mt by FY14.