UltraTech cement signs pact with RIICO for railway siding project

Jaipur : UltraTech Cement, an Aditya Birla Group company, signed an MoU with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) signed an memorandum of understanding (MOU) for commissioning of a railway project in Sikar and Jhunjhunu districts.

The MoU was signed by RIICO's Managing Director Rajendra Bhanawat and Ultratech Cement Ltd Asstt. Vice President Rakesh Misra . As per the agreement, RIICO will acquire 67.812 hectares of land in Sikar and Jhunjhunu districts for the project.

The project, spread across 1,006 hectares, is likely to generate direct and indirect employment to 2500 persons. This will be the third cement company in the last one year which has signed an agreement with RIICO for cement projects in the state.

UltraTech is the country's largest exporter of cement clinker with business interest in countries around the Indian Ocean, Africa and the Middle East.The company has posted net sales of Rs.13,210 crores in the last fiscal year as compared to Rs.13,442 crores in FY 10.