Paper maker Emami group plans to enter the cement business and expand in real estate.
The company will invest Rs 3,500 crore in the businesses.
“The infrastructure sector has a huge potential and we want to take part in the growth of this sector. We have identified real estate and cement as the most promising areas and will invest Rs 3,500 crore over the next two to three years,” said Aditya Agarwal, director, Emami group.
He said the cement plant will be in Chattisgarh.
The MoU with the state government has been signed, and the 4mt plant will come up in two phases.
A captive power plant of 100mw capacity is part of the project.
Agarwal said that the project would cost Rs 1,600 crore and would be completed in three years.
“We have requested the Chattisgarh government to allocate limestone quarries and also applied for coal blocks for the cement plant.”