Chettinad Cement Corp moves on expansion

Chettinad Cement Corp moves on expansion
19 September 2014

India’s Chettinad Cement Corp has received all the required permits for its greenfield project in Andhra Pradesh and expansion in Karnataka.

In Andhra Pradesh, the company is building a 3.5Mta integrated cement works at Guntur, reflecting an investment of INR11bn (US$181m). Chettinad Cement has acquired a 405ha plot for the unit.

At Gulbarga, Karnataka, the company will be investing INR20.1bn in expanding its plant from 2.5Mta to 5.75Mta. The project includes the construction of a 130MW captive thermal power unit.

Both projects are expected to come online in three years’ time.

In addition, the company will also build two 2Mta grinding units and two 50MW captive thermal power plants on a 49ha site in Solapur, Maharashtra, at a cost of INR6.6bn.

The projects would be financed through a mix of debt and internal accruals.

Chettinad Cement would also explore its options to become a pan-Indian cement producers, according to its managing director, MAMR Muthiah. The company was considering projects in Gujarat, Madhya Pradesh and Rajasthan.

Published under Cement News