UltraTech Cement’s wholly owned subsidiary in the UAE -- UltraTech Cement Middle East Investments (UCMEIL) has increased its shareholding in Ras Al Khaimah Company for White Cement and Construction Materials PSC (RAKWCT) to 65.94% with the acquisition of 5,77,74,407 equity shares representing 11.55% of the share capital of RAKWCT.

UCMEIL wishes to better benefit from its expertise in the field of white cement manufacturing through expanding the business of RAKWCT locally, regionally and globally including providing modern products such as wall care putty and other new products. Cost of acquisition is $22.02 million. 

UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India.