India Cements plans 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 ₹1,300-1,400 crore in preparation for the future demand in North and Central India. Its current capacity is about 16 million tonnes and the proposed expansion may take the total capacity to about 20 million tonnes in 2-3 years’ time. The move is also expected to make the company a pan-India player.
“We are in the process of buying all the lands privately in Madhya Pradesh and we hope to complete the land acquisition process in 3-4 months. After this, we will look into raising money for the project,” N. Srinivasan, Vice-Chairman & Managing Director of India Cements, said here.
