Mumbai, Nov. 10
Grasim Industries said it plans to set up a 3.5 million tonnes-per-annum (mtpa) integrated cement plant in Orissa for Rs 1,200 crore. The project includes a 50 MW captive power plant.
The plant is expected to be commissioned in three years, said a statement from the company, which signed the memorandum of understanding with the Government of Orissa on Friday.
The State Government has agreed to assist in acquisition of the necessary limestone mines, land for the plant, in helping with laying a rail link, and adequate sources of fly-ash, slag and coal, said the statement.
This project adds to Grasim Industries' bumper capital expenditure plan for the next two years for capacity addition of 8 mtpa.
Around Rs 4,500 crore will be spent on Grasim over the next two years and Rs 1,520 crore on its group company UltraTech over the next three years, said Mr D.D Rathi, whole-time Director and Chief Financial Officer, Grasim Industries, at the time of the company's first quarter results earlier this year.
Grasim said it would spend Rs 2,475 crore on a greenfield plant for 4 mtpa , with a split grinding unit at Kotputli in Rajasthan, and on expansion of its Sambhupura unit in Rajasthan by another 4 mtpa. The capex also covers thermal plants, which will be set up at each of these locations.Related Stories:
Grasim to spend Rs 4,500 cr on capex