Binani Cement Ltd plans to invest around INR52m in coal blocks. However, the company has still has no plans for its existing coal block in Chhattisgarh.
Cement companies are allotted coal blocks by the Central government for captive industrial use. Binani Cement Ltd was also allotted one such coal block in Bisrampur, Chhattisgarh in 2008.
Commenting on the status of this block, Vinod Juneja, managing director, Binani Group of Industries said, “We have asked the government to give us some more time, we are still thinking of what to do with this particular block.”
A press release from Binani stated that if the government develops infrastructure, Binani would invest Rs52 million in coal blocks.
“These (proposed projects) would be coal blocks in India,” said Mr Juneja. On the timeline for these proposed investments, Mr Juneja said that his company would like them to happen in the “fastest possible” time.
The company has also submitted a fresh requirement for coal blocks to the Central government. The number of coal blocks required has been decided depending on the need for the next thirty years.