Cemex, UAE and Star Cement Co L.L.C., Dubai partner to boost circular economy in the Building Materials Industry

Cemex UAE, has announced signing a cooperation agreement with Star Cement Co LLC ("Star Cement"), a wholly owned subsidiary of UltraTech Cement Limited, India, an Aditya Birla Group Company. The partnership aims to recycle concrete waste in the construction industry as well as reduce carbon emissions and improve the overall environmental impact of construction projects.

Through the partnership, the companies will deploy new solutions to manage and reuse concrete waste by utilizing advanced and environmentally safe practices. Furthermore, Cemex will provide low carbon byproducts to Star Cement, helping to reduce the carbon footprint of the built environment.

"We are keen to connect and work closely with partners that possess an equal sense of urgency in addressing the challenges of climate change" said Rafael Villalona, Country Director Cemex UAE. "This partnership is one of the many consistent steps that we, as Cemex UAE, are taking towards our sustainability goals, and our Climate Action Program, 'Future in Action'," he added.

Ayman Attia, CEO, Star Cement, said, "We are delighted to collaborate with Cemex UAE, as a part of our unwavering endeavour to accelerate progress on our sustainability goals, which includes improving waste management practices and enhancing the circular economy. We are fully committed to UltraTech's goal to achieve Net Zero by 2050. We believe in the value that this partnership will bring to the Building Materials industry specifically and to the environment in general".

The partnership aligns with the UAE's 2050 vision to become a Net-Zero Nation and a Global Leader in Sustainability. Both companies are committed to embracing innovative solutions that contribute to a greener future for the Building Materials industry in the Middle East region.

Shares of UltraTech Cement Limited was last trading in BSE at Rs. 8257.50 as compared to the previous close of Rs. 8153.25. The total number of shares traded during the day was 35684 in over 1226 trades.

The stock hit an intraday high of Rs. 8283.70 and intraday low of 8126.95. The net turnover during the day was Rs. 290709126.00.

Source : Equity Bulls

Keywords

UltraTechCement INE481G01011 StarCementCoLLC CemexUAE CooperationAgreement