Continuing to strengthen its position in the East, Dalmia Bharat Group plans to ramp up its cement production capacity in Odisha for an investment of around Rs 2,000 crore.
The company, which is participating in the ongoing 'Make in Odisha Conclave' here, said that it plans to enrich business commitment to the state further.
OCL India Ltd has an installed capacity of 5.4 MT per annum distributed between its two manufacturing units in Odisha, company officials said.
Mahendra Singhi, Group CEO, Dalmia Bharat Group, said, Odisha is on a high economic growth trajectory and its GDP is expected to grow at around 12 per cent by 2020. Gvernment's commitment to industrial development is backed by industry friendly policies which is already showing positive results.
"Odisha has always been our home soil and our business relationship with the state has matured over the years. The state's zeal to grow further thus compels us to partner its next leap of growth," he said.
The Odisha government, which has laid a long-term roadmap to enable development and aid industrial growth in the State under its 'Vision-2025: Odisha Industrial Development Plan 2025', emphasises Smart City development, infrastructure revamp and affordable housing, which is likely to provide a fillip to cement demand, he said.
Amandeep, Director and CEO, OCL India Ltd, said good governance and stable political leadership has been one of the prime factors that has helped investors show faith in investment in the State.
Additionally, there has been a growing improvement in business sentiment across sectors in Odisha due to investor friendly policies. The concept of a Smart City will get a boost if the Government focuses more on road and power infrastructure. With Government's focus on affordable housing and Smart cities, cement can expect incremental growth in demand over the next five years, he said.
Dalmia Bharat Cement has also participated in 'Make in Odisha Expo' being held at Janata Maidan here. The Dalmia Bharat pavilion showcases Dalmia Bharat Cement's footprint in Eastern India, its product offering and environmental initiatives for sustainable growth, a company statement said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)