India Cements sells 73.75 acres land in Andhra Pradesh for Rs 70 crore to UltraTech Cement, ET RealEstate
NEW DELHI: The India Cements has sold 73.75 acres land in Andhra Pradesh for Rs 70 crore to UltraTech Cement, both the companies informed in separate BSE filings.
“The India Cements has entered into an agreement with UltraTech Cement for the sale of land admeasuring 73.75 acres (which includes land admeasuring 14.53 acres to be procured) located at villages Kantakapalle and Chinnipalem, Mandal Kothavalasa, Vizianagram district, Andhra Pradesh, for a consideration of Rs 70 crore,” it said in the regulatory filing.
This is part of the India Cement’s plan to monetize some of its non-core assets for improving its liquidity and to meet few of its capital expenditure plans.
