India Cements plant in Himachal delayed by six months
The Chennai-based India Cements Ltd proposed plant in Himachal Pradesh has been delayed by at least six months as costs have gone up by Rs.2.5bn, officials here said.
India Cements and the Himachal Pradesh government signed a memorandum of understanding (MoU) in May last year to set up a Rs.7.5bn project at Gumma in Shimla district, 150 from here.
According to officials, the company has informed the state government about the enhanced costs and another detailed survey would have to be now carried out with assistance of the state geological survey. This could mean a delay of six months.
"The company has asked for extra time to carry out the survey," said Arun Sharma, a geologist with the industries department.
The plant aims at producing two million tonnes of cement every year and thereby give a fillip to the economy of the backward region.
Experts say the Gumma limestone mines have over 200Mt of high quality limestone reserves. Published under Cement News
