Cement producer ACC on Thursday said it has commenced commercial production of clinker at Ametha cement plant in Madhya Pradesh.
The plant has a clinker capacity of 3.3 million tonnes per annum (MTPA) and a cement capacity of 1 MTPA, the company said in a filing to the stock exchanges.
This greenfield integrated project will aid in the lowest-cost production of clinker and cement, which will boost the company's overall portfolio to 37 MTPA and help in the overall improvement in profitability as well as market share of the company.
The cement plant's strategic location offers a logistical advantage, which will intensify the company's ability to cater to critical markets efficiently.
"This milestone harmoniously aligns with our growth strategy for the cement business, enabling us to meet evolving market demands while upholding our unwavering standards of quality, " Ajay Kapur, CEO of ACC Ltd, said.
The plant is an ESG-compliant one and will demonstrate ACC's commitment to environmental responsibility with 16.3 MW of waste heater recovery (WHRS) capacity and up to 15 percent of alternative fuel and raw material (AFR) potential.
ACC, which is one of the leading producers of cement and ready-mix concrete in the country, has 17 cement manufacturing sites, over 88 concrete plants, and a nationwide network of channel partners to serve its customers.
In the June quarter, the cement major posted a 105 percent year-on-year (YoY) jump in net profit at Rs 466.1 crore. Total revenue surged by 16.4 percent YoY to Rs 5,201.1 crore during the first quarter ended June 2023.
At 11:30 AM, shares of ACC Ltd were trading 0.45 percent lower at Rs 2,053.60 apiece on BSE.
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