October 07, 2008

Binani Cement to invest INR 2,000 crore to double output

Binani Cement has announced that it would invest INR 2,000 crore to double its capacity to 12 million tonnes per year by 2012.

Mr Vinod Juneja deputy MD of Binani Cement said that "We are looking at both organic and inorganic routes to double our capacity to 12 million tonnes per annum by 2012. This will require investment to the tune of INR 2,000 crore."

Mr Juneja said that Binani Cement would put up a 2 million tonnes per annum Greenfield plant near the coastal Gujarat with an investment of INR 800 crore. He added that "We will invest around INR 350 crore from our own resources in the proposed plant. We have already acquired 100 acres of land and work on the grinding unit will start within this fiscal itself."