New Delhi, Nov 25 (UNI) Notwithstanding the slowdown in the realty sector amidst the global financial crisis, Swiss cement giant Holcim today said it will go ahead with its plans for capacity expansion in the India, but will be slower on further investment projects.
''We will go ahead with our original plans for adding 13-14 million tonnes by June 2010, but will be slower on further investment plans,'' Holcim Member of Executive Committee Paul Hugentobler told reporters here on the sidelines of a function here.
The company, which is promoters of country's top two cement manufacturers--ACC and Ambuja Cements, has plans to invest Rs 10,000 crore for setting up five cement plants and some grinding units.
However, there has been decline in demand for cements in India, which is one of the growth markets for Holcim in the Asia-Pacific region.
The world's second largest cement-maker has about 41 million tonnes of capacity in the country and controls more than one-fifth of the industry's overall production capacities in India.
Currently, Ambuja Cements has a capacity of around 18.5 million tonnes, which will increase to 25 million tonnes. Similarly, ACC plans capacity expansion to about 30 million tonnes by 2010 from 22.4 million tonnes.
Holcim, which registered a dip of 23 per cent in its profits for the September quarter, has decided to shut units in Spain and the US.
UNI MP AK HS1700