Surya Group to set up 5Mta plant in Gujarat

Surya Group to set up 5Mta plant in Gujarat
Published: 17 May 2010

Having commenced production of its first factory in Gujarat of GI and API pipes with an investment of INR400 crore, the Surya Group plans to sign a memorandum of understanding (MoU) with the state government for a mega cement plant in Kutch district at the forthcoming Vibrant Gujarat Global Investors’ Summit (VGGIS) 2011.

"We have already written a request letter to the Gujarat government for setting up of a 5Mt cement plant in Kutch district.  We may also be signing an MoU in this regard in the upcoming investors’ summit. The plant is likely to commence production within two years from approval from the state government and will envisage an investment of INR4000, part of which will be raised through public issue of our subsidiary company, apart from bank loans," said Jaiprakash Agarwal, chairman, Surya Group.