Binani Cement to raise US$90m

Binani Cement to raise US$90m
Published: 30 September 2008

Binani Cement has revealed that the company is proposing to raise US$90m through International debt by March 2009 to increase its manufacturing capacities to twofold in China and Dubai by fiscal 2010.

The source close to the company said that Binani Cement is looking at building grinding units in Africa.

According to the reports, the proposed grinding unit would have an annual capacity of 1Mt and would entail an investment of approximately US$80-85m.

The reports also revealed that company will soon build a greenfield unit having an annual capacity of 2.5 Mt in Gujarat.