AHW Steels, a subsidiary of Kolkatta based Bagaria group with diversified interests is now eyeing to enter into the cement business with capital expenditure of Rs12bn, reports Business Standard.
It is learnt that the company is in talks with Gujarat government for setting up a cement unit in Kutch and is expected to ink a memorandum of understanding (MoU), the financial daily said.
AHW Steels is planning to buy about 1,000 acres of land in Kutch for the cement project. It has sought mining lease from the state government the process for which is on.
Kutch with its rich limestone deposits has lured many cement companies to set up their manufacturing units.