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Binani Cement to invest Rs 2,000 cr by 2012

MUMBAI, April 21 (Reuters) – Binani Cement today said it would invest Rs 2,000 crore to double its capacity to 12 mn tonne per year by 2012. “We are looking at both organic and inorganic routes to double our capacity to 12 mn tonne per annum (mtpa) by 2012. This will require investment to the tune of Rs 2,000 crore,”the company’s deputy managing director Vinod Juneja said here.

Binani Cement, he said, would put up a 2 mn tpa greenfield plant near the coastal Gujarat with an investment of Rs 800 crore.

“We will invest around Rs 350 crore from our own (resources) in the proposed plant,” Juneja said, but declined to give further details. The company would also set up a one mtpa grinding unit at Bharuch in Gujarat, he said, adding that total investment in the unit would be around Rs 200 crore.

“We have already acquired 100 acres of land and work on the grinding unit will start within this fiscal itself,” Juneja said.

Binani Cement would invest $70 mn to double the cement capacity of its plant in China to two mtpa. It also plans to double its manufacturing capacity in Dubai. The Dubai facility currently manufactures 0.85 mtpa of cement.

The company is looking to set up two grinding units overseas — one in Mauritius and the other one either in the Ivory Coast, Ghana or Nigeria.