Binani Cement Ltd will invest around Rs 2,000 crore to double its capacity to 12 million tonnes per annum (mtpa) by 2012.
Vinod Juneja, deputy managing director, Binani Group of Industries told DNA Money, the outlay includes Rs 800 crore for a 2 mtpa greenfield plant in coastal Gujarat and Rs 200 crore for a 1 mtpa grinding unit at Bharuch in Gujarat.
“We have already acquired 100 acres of land and work on the grinding unit will start within this fiscal itself,” said Juneja.
Binani will also invest a total of around Rs 800 crore to double its cement capacity in China to 2 mtpa and in Dubai from the current 0.85 mtpa.
Further, it is looking to set up two grinding units overseas – one in Mauritius and the other in Ivory Coast, Ghana or Nigeria.
Binani Cement manufactures ordinary portland cement (OPC) and portland pozzolana cement (PPC). Its fully integrated cement plant, including captive limestone mines and power plant, is strategically located at Binanigram in Rajasthan.
It is foraying into newer markets in the North and West, too.
Sources said the company, flagship of the Rs 1,500 crore Binani group, is working on a blueprint for forays into Maharashtra, Punjab, J&K and HP.
For the fiscal ended March 2008, Binani Cement has posted profit after tax of Rs 175.82 crore, up from Rs 95.61 crore a year ago.