Rungta Mines Ltd (RML), the flagship company of SR Rungta Group, proposes to
set up a one million tpa cement plant in Orissa, with an investment of around Rs
600 crore. The project is likely to be funded through a mix of debt and internal
accruals.
RML is in talks with the state government for allocation of limestone
reserves to execute the cement project.
Meanwhile, the company is also in the process of setting up two steel plants,
one each in Orissa and Jharkhand. The steel producing capacity of plants in
Orissa and Jharkhand is expected to be two and 0.5 million tpa, respectively.
According to sources, production of sponge iron has partially begun at both
the locations and the plants are to become fully operational in the next
three-four years.