The Tamil Nadu government is to upgrade two of its cement plants with an investment of around of INR515 crore.
The Business Standard of India reports that the state government is to invest INR165 crore in the Alangulam cement plant. Orders have also been issued to appoint a project management consultant to increase the production of the Ariyalur cement plant to 1.5Mta from the current 500,000t. Investment for the proposed expansion would be around INR 350 crore, according to the state industries department.
The expansion of the state-run cement companies comes at a time when the southern cement market is showing some positive recovery. After reporting a decline of 3.03 per cent in the first nine months of the current financial year, in the last quarter it reported 8.98 per cent growth.