ABG to establish 6Mt cement plant by 2010

ABG to establish 6Mt cement plant by 2010
Published: 01 September 2009

The ABG Group is to establish a 6Mt cement plant near Bhuj by 2010 and foray into power generation with a 100MW plant in Gujarat.

"The cement plant is being set up near Bhuj at a cost of Rs 2,000 crore and will go on-stream by end of 2010," ABG Group Chief Financial Officer D Datar told PTI.

The cement plant would be funded at a 2:1 debt-equity ratio and IFCI has already taken up 14 per cent stake in the project.

"We are also looking at few more equity participations for the project," Datar said, adding, that the company was open to the idea of acquiring small cement makers, but yet to firm up plans.