Green Valley Industries, a part of the city-based GNG group, would set up a 1 million tonne cement plant in Meghalaya at an investment of Rs 450 crore.
Chairman GNG group G N Agarwal today said the plant would be set up in two phases. In the first phase, the installed capacity would be 0.6 million tonnes which would require an investment of Rs 250 crore.
He said the financial closure of the project had been achieved and funding would be done in the debt-equity ratio of 70:30.
By the first quarter of 2010, the first phase would be ready.
The group also has interests in exports and hydel power generation.
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