Ultratech acquires Sri Lanka's Cement Plant

Thebullishtrends: Ultratech Cement share price closed on Friday at Rs.879.65(10.2%) . As per the latest reports India's largest cement company Ultratech Cement owned by Aditya Birla Group has decided to acquire the 5 lakh tonnes capacity of Sri Lanka based Kankesanthurai cement plant in Jaffna. which is lying closed more than 17 yrs. The Aditya Birla Group has forward the proposal before the Sri Lanka Government but the Govt yet to take the decission. There are no operations in Knkesanthurai plant since 1990 infact it was the first cement plant built in Sri Lanka.