India/China/UAE: UltraTech Cement is looking for buyers for the cement production assets of Binani Cement in China and the UAE. It purchased Binani Cement’s share in joint-ventures in these countries, according to the Hindu newspaper. In China it runs a 3Mt/yr integrated plant and in the UAE it operates a 2.5Mt/yr grinding plant. However, before it was acquired by UltraTech Cement, Binani Cement was unable to sell its stake in its Chinese unit. Attempts to sell the plant in UAE are also expected to be difficult due to market overcapacity.
UltraTech Cement seeking buyers for international Binani Cement assets
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