Dalmia Cement to set up plants in Karnataka, Rajasthan

Dalmia Cement to set up plants in Karnataka, Rajasthan
Published: 06 October 2009

Dalmia Cement, South India’s second largest cement maker, has raised over Rs 3,100 crore (US$660m) in debt through a consortium of bankers, which will be used to fund its expansion plans, according to the company’s managing director Puneet Dalmia.

“We have raised it, a week back. We are adding 10Mt in India in a phased manner and this will be deployed over the next 2-3 years,” Mr Dalmia told the Economic Times on Monday.

The money was raised through Dalmia Cement Ventures, a wholly owned subsidiary of Dalmia Cement.While IDBI is believed to be one of the key bankers in the consortium, there were no details available on the duration of the loan or the interest charged on the same.