Dalmia Cement (Bharat) Ltd has said it will invest Rs 2,500 crore to set up new cement manufacturing plants in Odisha.
Dalmia Cement, which participated in the second edition of Make in Odisha Conclave, said in a statement on Tuesday its new cement plants will come up in Rajgangpur and Cuttack.
DCBL also shared its vision and plan enriching its association with Odisha since 1950.
Puneet Dalmia, Managing Director, Dalmia Bharat Group and Mahendra Singhi, MD and Group CEO, Dalmia Bharat Cement, attended the conclave and laid the long-term road map for business and infrastructure growth in Odisha.
"Good governance, stable political leadership, industry-friendly policies, continued economic growth and availability of skilled manpower are prime motivators behind Dalmia Cement (Bharat) Ltd reaffirming its faith to grow and expand its business in Odisha," said Mahendra Singhi.
The state is among the top three investment destinations in India and ranks first in investment implementation rate. With the implementation of smart cities and simultaneous development of social infrastructure, there will be an incremental growth in demand in the cement industry over the next five years, he added.
"Our business and strategic partnership with the state has matured over the years. The State's zeal to grow further thus compels us to partner in its next leap of growth," said Mahendra Singhi.
DCBL had earlier proposed a new unit of 2.25 million tonne per annum (MTPA) cement manufacturing and 3 MTPA clinker manufacturing capacity at Rajgangpur.
Once the plant goes live, the company's total capacity in Rajgangpur will increase to 6.25 MTPA in cement and 5.9 MTPA in clinker manufacturing.
Dalmia Cement which is credited with peripheral development of Rajgangpur and multiple deeper pockets of Odisha and East at large, now promises to generate further direct and indirect employment opportunities through its new plants.
The new Dalmia DSP Unit will entail an investment of Rs 2000 crore and it is expected to be commissioned by late 2019.
Dalmia Cement (Bharat) Ltd is also putting up another new plant with cement manufacturing with cement manufacturing capacity of 2.5 million tonne at Kapilas, near Cuttack.
The project is expected to be completed in 18 months with an investment of about Rs 500 crore, the statement said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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