In one of the largest investments in Maharashtra, Reliance Cementation, an Anil Dhirubhai Ambani Group (ADAG) company, today announced setting up of 2 cement units in Maharashtra with a total investment of Rs 2,250 crore.
Reliance Cementation is going to set up a 5 million tonne integrated cement plant in Yavatmal district and a 2 million tonne cement grinding unit at Butibori in the Nagpur district.
The company signed a memorandum of understanding (MoU) to this effect with the state government at a function here in the presence of Chief Minister Ashok Chavan and Industry Minister Narayan Rane.
Reliance Cementation Director Anil Singhvi told reporters that the cement production was expected to start from April 2012.
He said the company was also setting up a 50-Mw captive power plant at Yavatmal.
He said the company would arrange a debt of Rs 1,500 crore and an equity of Rs 750 crore for the project.
Both Yavatmal and Butibori in the Vidarbha region are among the most backward areas of the state and the government has managed to attract quite a few companies there through its mega project policy.
In a release, the company said Maharashtra, the largest cement consuming centre in the country, has a deficit of about 10 million tonnes of cement per year which is met through supplies from other states.
