Emami Group to set up cement plant in Chattisgarh
Kolkata, May 9 (UNI) Emami Group of Companies has decided to set a 4 Million Tonne cement factory in Chattisgarh with an investment of Rs 1600 crore.
Speaking to UNI, Emami Group Director Aditya Agarwal today said the group has signed a Memorandum of Understanding(MoU) with the Chattisgarh government for setting up a 4 MT cement plant in two phases and a 100 MW captive power plant in the state.
''A new company will be formed by the group for this project. The project implementation is expected to be completed in three years with an investment of Rs 1600 crores, financed by a mix of equity capital and term loans from financial institutions,'' he said.
Out of the total Rs 1600 crore investment, the debt equity ratio would be 2:1.
When asked, how much money would come from internal accruals, he said funds will be sourced from Emami Paper Mills Limited as internal acrruals and unsecured loans.
The plant is expected to commence production in four years.
UNI