UltraTech Cement, a leading global cement producer with a capacity of 126.75 MTPA, has acquired 70% of Duqm Cement Project International, LLC through its subsidiary, UltraTech Cement Middle East Investments Limited, in a share sale and purchase agreement with Seven Seas Company LLC. The acquisition will make UltraTech the majority stakeholder in Duqm and is set to be completed in 90 days, through a cash consideration of USD 2.25 million. Duqm Cement Project International, based in Oman and operating in the limestone mining industry, was incorporated in 2017 and has not reported any turnover in the past three years.
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