Kolkata, Jul 30 (UNI) Birla Corporation, the flagship company of the M P Birla group, plans to set up a three-million ton cement plant in Madhya Pradesh involving an investment of Rs.1,200 crore.
"We have decided to install a three-million ton greenfield cement plant in Madhya Pradesh for which we have already signed an MoU with the state government. With this, our cement manufacturing capacity will cross 10-million tons,'' group Chairman R S Lodha told reporters on the sidelines of the company's AGM today.
He said the expansion programme would complete by 2011.
Mr.Lodha said the funds for the project would come from a mix of debt and equity.
"We are waiting for the limestone mining block and the state is in the process of allotting it to us cancelling the right given wrongfully to someone else," he said.
In reply to a question, Mr.Lodha said the company would go for acquisition of land--about 2,000 acres--after it possessed the limestone mining block.
He, however, said the company might have to relocate the project in case it failed to receive the limestone block.
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