According to local reports, ACC Ltd is planning a Rs.3000 crore investment in cement facilities in eastern India. The cement major, part of Switzerland’s Holcim Group, allegedly hopes to expand capacity by 4 million over the next three years by expanding two facilities and beginning construction of another.Vivek Chawla, Chief Executive of East, ACC Ltd, told Business Line that the company plans to expand its capacity in the East to 10 million t, financed through internal accrual.
The new plant is set to cost an estimated Rs.600 crore and will be established in Kharagpur. Construction of the 1.5 million t grinding plant is due to start in January 2014, pending discussions with the state government. In addition to permits for the plant, the company is also looking to acquire 150 acres for the proposed project. Construction of the plant is expected to take 2 years.
These comments were made at a press briefing for a new brand of cement, called ACC Plus+, which has been launched in West Bengal.
Holcim recently announced plans to streamline its organisational structure in India, by merging Holcim India Private Ltd (HIPL) with Ambuja Cements, and then acquiring ACC into this subdivision. Both Ambuja and ACC would continue to operate as separate entities, but with closer back-end cooperation. The restructuring is subject to regulatory approvals.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/03092013/acc_plans_expansion_in_east_india_145/
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