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Binani Cement buys plant in Dubai

Binani Cement Ltd has acquired a plant in Dubai, the Chairman Mr. Braj Binani, told NewsWire18 after an extraordinary general meeting of the company. “As of now the deal to acquire a plant in Dubai is concluded. Announcement will be made within the next 10 days,” Mr. Binani said. Binani also said the company would increase capacity of its China plant to 3 million tonnes, but he did not mention a time frame for the expansion. “We will take the capacity of the Chinese plant to 3 mt at an investment of $100 million,” the Chairman said. In August, Binani Cement had bought 49 per cent stake in Shandong Rongan Group’s cement company having capacity of 400,000 tonnes a year.