Birla Corp cement venture in Assam

Birla Corporation is setting up a Rs 450-crore cement manufacturing plant in the North Cachar Hills district of Assam. The project would be through a joint venture with the Assam Mineral Development Corporation. A company note said that the entity will have an equity base of Rs 150 crore, of which Birla Corporation would provide 87.5 per cent; the balance 12.5 per cent would come from the Assam outfit. The two entities formally signed an MoU for the proposed venture in Guwahati, on Thursday.