Diversified conglomerate Essar Group has firmed up plans to invest over INR2000 crore to set up a new cement and ferroalloy unit in Madhya Pradesh as part of its mega investment programme in the state.
The group, which has already committed investments worth around INR8,000 crore in the state across sectors like steel, power and telecom had last week entered into a pact with the Madhya Pradesh government for a cement and ferroalloys project.
The group will set up a cement plant with a capacity of 5Mt. The plant will be built in two phases, with 2Mt of capacity established in the first stage.
