JK Lakshmi Cement to invest INR2.25bn in Surat expansion

JK Lakshmi Cement announced it will be spending INR2.25bn (US$27m) to expand its Surat plant in Gujarat, India. Cement capacity at the plant will be increased by 1.35Mta by setting up an additional grinding unit, the company said.

The project is expected to be completed within two years and will see the doubling of existing capacity. It will be financed through a mix of term loans and internal accruals.