Reliance Anil Dhirubhai Ambani Group has announced plans to construct a 5 million tpa cement plant in Karnataka with an investment of Rs. 1500 crore. Sources have reported that the Karnataka government should sign a memorandum of understanding with Reliance during the Global Investors Meet, which is scheduled to take place at the beginning of June.
Anil Ambani also revealed that its subsidiary, Reliance Cementation, will be investing some Rs. 10 000 crore over the next five years as it looks to add a further 20 million tpa to its capacity, which would make it a key player in the local industry.
The government is keen to finalise the project as soon as possible, as it hopes that other major companies will be encouraged to invest in the local cement sector
Read the article online at: https://www.worldcement.com/asia-pacific-rim/29042010/reliance_adag_to_construct_5_million_tpa_cement_plant/