Project Today reported that Binani Cement Ltd is likely to raise US$30m via a bond issue by January 2010 to fund China operations. As per report the proceeds are likely to be used to finance the expansion of the company’s Chinese operations.
Shandong Binani Rong’ An Cement Company of China a BCL subsidiary is expanding its manufacturing capacity from 0.5Mt to 3Mt at an estimated cost of INR600 crore.
Currently, the land acquisition, project design and engineering works are on. The plant is expected to commence operations by June 2011.