Gujarat Ambuja projects 10% growth for cement, to set up power plants

Gujarat Ambuja Cements Ltd has announced the following Outlook:

Indian economy is growing very well and construction industry is witnessing rapid growth. Demand for cement is expected to be over 10% on the back of very sound GDP growth.

The Company alongwith ACEL have planned a total capital outlay of Rs 950 crores. This is for augmenting cement capacity by setting up a clinker unit of 2.3 million tonnes in Chattisgarh and setting up 3 power plants of 81 MW at various locations.

The first phase of the 60 MW power plant at Ambujanagar in Gujarat would be operational by the 1st Quarter of 2007. The second phase would be ready by the 2nd Quarter of 2007.

Meanwhile, the work on the upgradation of the cement plant at Rajasthan and two grinding units at Uttaranchal and West Bengal is progressing very fast.

Source : Equity Bulls

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