Shiva revises expansion investment, India

Shiva revises expansion investment, India
Published: 13 June 2011

India’s Rourkela-based Shiva Cement on Friday said the cost of its proposed brownfield expansion has been revised upwards by nearly 52 per cent to INR248 crore (US$55.6m).

"...The Project Co-ordination Committee (authorised by the Board) has approved revision of project cost from INR163.5 crore to INR248 crore in view of revision in the expanded capacity up to 1Mta," the company said in a filing to the Bombay Stock Exchange (BSE).

Earlier, Shiva Cement had said that it has received environment clearance for expanding plant capacity from 0.132Mta currently to 1Mta.

Shiva Cement expects to start commercial production of the expanded capacity in the final quarter of 2012-13.