Press Trust of India / Mumbai Jul 21, 2009, 18:20 IST
Reliance Infrastructure will get into cement sector in a big way and has chalked out plans to set up cement plants with a total capacity of 20 million tonnes per annum, the company chairman Anil Ambani told shareholders at the 80th annual general meeting here today.
He said the company will invest Rs 10,000 crore on building the cement plants over the next five years which will make the company among the top 5 cement player in the country.
Last week, Reliance Cementation signed an MoU with Maharashtra government to set up a 5 million ton integrated cement plant in Yavatmal with a grinding unit at Batibori in Nagpur district at an investment of Rs 2,250 crore.
He said cement industry grew by 8 per cent even during slowdown in 2008-09 and is expected to maintain the same growth pattern in the next 10-15 years.
Giving reasons for entering into cement Anil Ambani said, "As a natural extension of the power and infrastructure interest of our group, it gives us strategic advantage to enter into cement."
He observed that nearly 40 per cent of the cost of manufacturing cement comes from coal, fly ash and power.
"Given that all the three ingredients are at the core of our existing portfolio, there are obvious synergies that are waiting to be exploited," he said.
Dear Sir,
Is there any opening in instrumentation category in Reliance cement at Maharashtra? kindly give your feedback.Reliance group having a big infrastructure ,also joining of cement bussiness will be a great value to the nation
with best regards.
Manoj Kumar Dubey
Dear Sir,
Self has 11 years of experience in mining field and was also a member of team for opening a new mine for Maratha Cement Works,Ambuja Cement Ltd.Since last two years self is working as functional team member for SAP, PP-PI.Self was trained under TCS at Mumbai for three month and awarded SAP certificate by HOLCIM group and implemented three projects in SAP, PP-PI module.
we agree to the growth in cement industry. Reliance venture into the same takes it to greater heights and make healthy competition. The advantage goes to RNRL as cementationis with that company. And if Rel Infra buys 51% stake value unlocking should be done. Which makes RNRLa better buy than Rel Infra.
Detailed view can be discussed at yahoo: lineshine
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