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India Cements draws capacity expansion plan

Thursday, 08 Aug 2019
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India Cements is planning to set up a new integrated cement factory in Madhya Pradesh and a grinding unit in Uttar Pradesh involving an investment in the range of Rs 1,300 crore to Rs 1,400 crore.

The company’s current capacity is about 16 million tonne and the proposed expansion will take the total capacity to about 20 million tonne in two-three years’ time. It Is also in the process of buying all the lands privately in Madhya Pradesh and intends to complete the land acquisition process in three to four months.

After this, the company will look into raising money for the project. The company has a mining lease for more than 100 million tonne limestone, a key raw material for producing cement, after the acquisition of Springway Mining in Madhya Pradesh in 2019.

The proposed grinding unit is expected to come near Allahabad in Uttar Pradesh. The expansion will provide an advantage of tapping markets such as Central and Northern regions in future.

 
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