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Our Bureau

Chennai, Sept. 20

Chettinad Cement Corporation Ltd plans to set up a 2-million-tonne-a-year cement plant at Ariyalur, near Tiruchi in Tamil Nadu. The company's board has given an in-principle approval for the proposal, according to a communication from the company to the stock exchange. The expansion will take its capacity to 5 million tonnes a year. Company officials said that details of the cost and funding were yet to be worked out. They expected the project to be commissioned in about 30 months once all approvals were obtained and funding worked out.

Earlier this year, Chettinad Cement announced that it was acquiring two unlisted companies - Sabari Cements (Chennai) Ltd and High-Tech Lime Products Ltd - for the limestone bearing lands that these companies owned. Chettinad also merged two subsidiaries - Alagappa Cements Pvt Ltd and Valliammai Mines Pvt Ltd - with itself.The company's shares closed at Rs 500 on the BSE on Wednesday, up from yesterday's close of Rs 493.10.

More Stories on : New Projects | Cement

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