Jaiprakash to expand cement capacity

Jaiprakash Associates Ltd, the flagship company of the Jaypee Group of Industries, has decided to invest Rs 1,500 crore for expanding its cement capacities directly or through joint ventures.

The board at its meeting held late-December approved to invest the amount in order to create new or enhance existing, already approved capacities of cement and cement products, directly or through joint venture special purpose vehicles.

The Lucknow-based company informed the Stock Exchanges that it would invest Rs 1,500 crore over the next five years.