Monnet Cement in expansion drive, India

Monnet Cement in expansion drive, India
Published: 22 March 2010

Monnet Ispat & Energy (MIEL) will set up cement plants in Chhattisgarh and Gujarat with an investment of about Rs 2,400 crore, as it embarks on an expansion and diversification drive.

Work on the two plants will begin in the October-December quarter under a new division of the company to be christened Monnet Cement, an industry executive familiar with the development said.

The project is expected to become operational in three years, he said, requesting anonymity. The metals-to-energy conglomerate will initially set up a three million tonne cement plant in Chhattisgarh, close to its existing sponge iron and steel melting facilities in Raipur, with a total investment of Rs 1,400 crore.