Binani Cement plans Mauritius unit in ’09
The Braj Binani-backed Binani Cement is all set to put up Mauritius’ first cement plant, which will begin production by the end of 2009.
Vinod Juneja, managing director, said the company has received in-principle clearances in Mauritius. "It will take 7-9 months to set up the plant. So production will commence from 2009-end," he said. The grinding unit will first produce 0.5Mt cement and capacity will later be increased to 1Mta.
The debt-equity ratio for investment into the Mauritius plant is 1:1 and the project is estimated to cost Rs 75-100 crore. The first tranche of investment will come from Binani and the company will later raise debt for the rest. Published under Cement News
