Emirates Cement to be sold to HeidelbergCement Bangladesh Ltd

UltraTech Cement Ltd (Aditya Birla group) is in the final stages of selling its stake in Emirates Cement Bangladesh to HeidelbergCement Bangladesh Ltd.

Emirates Cement operates a 0.5Mta grinding plant in Mukterpur, Bangladesh. UltraTech has proposed selling its share holding in Emirates Cement at BDT17.09 (US$0.20)/share setting the total sales value stake in Emirates Cement at BDT2710m (US$32.1m).

HeidelbergCement Bangladesh Ltd  currently operates two grinding plants in the country at Kanchpur and Chittagong. The Kanchpur plant is undergoing an expansion project.