Dalmia Cement (Bharat) announces Rs 758cr investment in Jharkhand
Indian cement company Dalmia Cement (Bharat) Limited has inked three memorandum of understandings (MoUs) with the Jharkhand government to invest INR 758 crores in the eastern Indian state.
As per the MoUs, the subsidiary of Dalmia Bharat Limited will invest INR 500 crores in its manufacturing plant at Jharkhand Industrial Area Development Authority Bokaro. Apart from expanding its existing capacity of 3.7Mnt by means of debottlenecking, Dalmia Cement (Bharat) intends to install a new grinding unit.
Following the investment, the company will take its overall cement manufacturing capacity at Bokaro to 6.3 million tonnes per annum (MTPA).
Under the second MoU, Dalmia Cement (Bharat) proposes to establish a solar power plant in Jharkhand with an investment of INR 250 crores.
Dalmia Cement (Bharat) announces Rs 758cr investment in Jharkhand. Logo courtesy of Dalmia Bharat Limited.
The third MoU will see the Indian cement company invest INR 8 crores for establishing material recover facility and legacy waste-bio mining activity for solid waste management under Ranchi Municipal Corporation.
Mahendra Singhi — MD and CEO of Dalmia Cement (Bharat) said: “At Dalmia Cement, we are committed to contributing to India’s growth story in terms of aiding the creation of world-class infrastructure, generating clean energy, and making India Atmanirbhar.
“We see an uptick in Indian cement demand which is being driven by the increasing Government spending on infrastructure and also the housing segment. With the eventual commissioning of this new Unit in the region, we would come to a step closer to our plan of increasing our cement capacity from 30.75 million tonnes in FY21 to 48.5 million tonnes by FY24.”
The signing of the MOUs follow an announcement by Dalmia Bharat earlier this month in which the company revealed a long-term plan to expand its cement capacity in India. The company intends to increase its cement manufacturing capacity to 110-130 million tonnes per annum by 2031 through a mix of organic & inorganic opportunities.
Dalmia Bharat said it will look to expand into new regions of operations while strengthening its position in its existing markets.