You are here: Home » Companies » News
Business Standard

Visaka setting up new asbestos cement plant in Orissa

BS Reporter  |  Chennai/ Hyderabad 

Visaka Industries is setting up a 100,000-tonne capacity asbestos cement sheet plant at Sambalpur in Orissa at an estimated cost of Rs 40 crore to meet the rural demand, according to vice-chairman G Vivekanand.

This apart, the company is ramping up the capacity of its Pune plant from 65,000 tonne to 100,000 tonne with Rs 15 crore investment. This is expected to be ready in a year.

Visaka, which is diversifying into the power segment, has also signed a memorandum of understanding with the Orissa government for setting up a 1,000-Mw power plant in two phases at an estimated to cost Rs 4,000 crore. It has initiated the land acquisition process and will form a special purpose vehicle in a joint venture to execute the project. Internal accruals and long term debt will be sought for the project, he said.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 27 2009. 00:41 IST
RECOMMENDED FOR YOU
.