Vicat announces plans for upcoming Indian projects

Vicat announces plans for upcoming Indian projects
12 March 2018

Vicat Group will invest INR5.1bn (US$78.4m) to set up a 1.75Mta greenfield grinding unit in Vizianagaram, Andhra Pradesh, India. The group’s subsidiary Kalburgi Cements Pvt Ltd has signed a memorandum of understanding with the Andhra Pradesh Economic Development Board (APEDB), an agency dedicated to attracting investments into the state.

Vicat plans to invest approximately INR17.35bn in India over the next three years. Alongside financing the grinding unit, the money will also be used to expand the capacity of its plant in Karnataka from 2.75Mta to 5Mta. The strategy is expected to take the group’s total Indian capacity to 6.75Mta by 2021-22.

 "We have already acquired 200 acres in Vizianagaram for a grinding plant, which will be wholly owned by Vicat and will be our own brand. It is being set up as part of our strategy to tap new markets like Odisha and West Bengal along with existing markets in Andhra Pradesh. We hope to ground the plant in six months after we get environmental clearances," said Anoop Kumar Saxena, CEO, Vicat India.

Published under Cement News