Grasim Industries Concludes MOU for Rs 1200 Crore Cement Project in Orissa

Grasim Industries Ltd has announced that the Company, and Government of Orissa concluded an MOU to set up a 3.50 million tpa integrated cement plant in the Sundergarh District in Orissa. The plant will involve an investment Rs 1200 crore and will include a 50 MW captive thermal power plant with a split, grinding unit.

This is expected to be the largest cement project in Orissa and is expected to be commissioned in 3 years.

The State government has agreed to assist in acquisition of the necessary limestone mines and land for the plant as well as for a rail link, apart from adequate sources of fly ash, slag and coal.

The MOU was signed by Shri I Srinivas, IAS, Commissioner-Cum-Secretary, Department of Industry for the Government of Orissa and by Shri S K Maheswari, Group Executive President, Aditya Birla Group and Chief Manufacturing & Project Officer of the Group’s Cement business on behalf of the Company.

Source : Equity Bulls

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