JK Cement Ltd said on Friday it would invest INR9.5bn in the first phase of a cement plant it is setting up in Karnataka state. The plant will have a capacity of 3.5Mta once the split-grinding unit is set up at an investment of INR1.2 bn, it said in a statement.
In August, a senior company official said that it plans to invest INR7.5bn to start a 3Mta grey cement plant in Karnataka. The company said it hoped to start production by October 2008 and sell the output in the southern and western India.
JK Cement has an annual capacity of 4Mt for grey cement and 0.4Mt for white cement.