Vicat enters framework agreements with Andhra Pradesh and Karnataka

Vicat enters framework agreements with Andhra Pradesh and Karnataka
20 March 2018

During the state visit of French President Emmanuel Macron to India, the Vicat Group has entered into two framework agreements with the Indian states of Andhra Pradesh and Karnataka to support them with their economic development.

The group has confirmed its long-term interest in the market by announcing plans to double capacity at its Kalburgi cement plant in Karnataka and the construction of a new grinding unit in Andhra Pradesh.

“We have seen for ourselves over the past few years the Indian market’s maturity and growth potential. And we are delighted to be able to play our part in developing and leading the consolidation of the sector with these agreements”, commented Guy Sidos, Vicat’s chairman and CEO.

The size of the domestic market, the second-largest in the world, is estimated at 297Mt in 2017, according to The Global Cement Report, 12th Edition. While annual consumption per capita is over 200kg, the country’s infrastructure needs, population growth and increasing urbanisation are expected to drive the market’s substantial growth potential.

Against this backdrop, the Vicat Group initially invested in India in 2008 with the building of its Kalburgi Cement plant, before strengthening its positions in 2010 by acquiring Bharati Cement. The planned investments will complement existing facilities and bolster the Group’s positions in this high-potential market. The latest cement technologies will be used in the context of these investments, with a particular emphasis on energy efficiency and environmental concerns.

Published under Cement News

Tagged Under: France Vicat India new capacity