Business Standard

Purbanchal Cement lines up Rs 200 crore for expansion, Bengal in roadmap

We are evaluating between brownfield expansion and acquisition preferably with mine rights in the northern part of Assam: Purbanchal Cement MD

A Kolkata-registered company, SMPL owns limestone reserves, a key cement input, in Madhya Pradesh and is planning to come up with a cement unit there

Agarwal said the company is also looking at opportunities beyond the northeast

Press Trust of India Kolkata

Assam-based Purvanchal Cement has earmarked Rs 200 crore for acquisition and expansion over the next few years, including foraying into markets outside the northeastern region like West Bengal, a senior official said.

The Maithon Group company has at present a 0.5-million tonne capacity plant near Guwahati.

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We are evaluating between brownfield expansion and acquisition preferably with mine rights in the northern part of Assam," Purbanchal Cement MD Vedant Agarwal said.

"We have earmarked Rs 200 crore over the next two-three years to fund our expansion. Initially, we are aiming at ramping up our installed capacity to 1 million tonnes," he told PTI.

 

Agarwal said the company is also looking at opportunities beyond the northeast.

"There are plans to set up a grinding unit in West Bengal to tap the eastern market demand," he said.

The West Bengal government has been wooing manufacturing industries for investment, banking on robust coal deposits, officials said.

In recent times, however, cement makers have been hit by high commodity prices and supply hurdles.

As a result of coal shortage, the industry is experiencing severe cost pressure, which has led to price volatility. However, things seem to be improving, albeit slowly," Agarwal said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Dec 18 2022 | 7:20 PM IST

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