Italcementi to invest more in India
Italcementi will invest Rs 800 crore (US$174m) over the next two years in various greenfield and acquisition projects the company’s Chief Executive Officer Mr Carlo Pesenti said. The Italian company has already spent Rs 1200 crore in India having acquired Zuari Cements in 2000 and Sri Vishnu Cements in 2001.
As part of its expansion plans, a 5500 tonne-per-day clinker unit will be built at the company’s plant in Yerraguntla, a statement said. This will be operational in 2008. A grinding unit will come up in Chennai and a captive power plant as well, both to be ready in 2007. Published under Cement News
