India: Ambuja Cements plans to spend to raise capacity

India: Ambuja Cements plans to spend to raise capacity
Published: 06 April 2010

Ambuja Cements Ltd plans to invest INR42bn to raise its annual production capacity plans to 3Mt over the next 20 months, a source said.

The source told Dow Jones Newswires the company has shortlisted three locations to set up greenfield cement plants, but didn’t provide any further details on the proposed sites.

Ambuja planst to spend INR10bn-12bn in 2010, while the remainder may be spent in the next calendar year, the source said. The company, in which Holcim owns a 46% stake in, plans to raise its capacity to about 28Mta from the current 25Mta through both greenfield and brownfield projects.