Somani to set up cement plant in Bhavnagar

Somani Cement Company Ltd of Vadodara is setting up a 1000tpd cement plant at Bhavnagar with an investment of Rs150 crore. Financial institutions, foreign institutional investors and insurance companies are to hold 5 per cent stake in the project. Also, Punjab National Bank has 4.35 percent stake and Morgan Stanley 0.5 percent stake in the project.