BSP to forge JV for cement

BSP to forge JV for cement
Published: 06 June 2005

Bokaro Steel, India, has decided to forge 50:50 joint ventures for setting up cement and power plants here at a total investment of Rs 2,800 crore. The company, the first among SAIL plants to foray into the cement sector, would soon invite expression of interest from cement majors for setting up a plant at a cost of around Rs 350 crore. Announcing this here on Friday, BSP managing director U P Singh told newspersons that the plant would have an initial capacity of 1Mta and would be expanded later to 2Mta depending on availability of granulated slag and market. "We decided to venture into the cement sector as we thought it will be more competitive due to availability of raw materials next door," he said.