Guj Ambuja Shelves Andhra, Lanka Plans

Gujarat Ambuja has put on hold its proposed two million tonne greenfield cement unit in Andhra Pradesh. At the same time, the cement major has also placed its 0.5 million tonne grinding unit plan for Sri Lanka on the backburner.

The Andhra unit, which was to be set up through subsidiary Ambuja Cements India (ACIL), envisaged an investment of Rs 600 crore.

The project would have required additional equity infusion from Gujarat Ambuja as well as the other equity partners