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Dalmia Cement to invest $1 billion on fresh expansion

Dalmia Cement to invest $1 billion on fresh expansion
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First Published: Wed, Jul 23 2008. 12 31 PM IST
Updated: Wed, Jul 23 2008. 12 31 PM IST
Reuters
New Delhi: Dalmia Cement (Bharat) unit will invest up to $1 billion over the next three years to expand capacity to meet the infrastructure demand from a fast-growing economy, a senior company official said.
The firm’s wholly-owned subsidiary, Dalmia Cement Ventures Ltd, is aiming to create 10 million tonnes per year of capacity across five plants in Rajasthan and Karnataka.
“Cement industry has linkage to gross domestic product growth. If GDP has to grow, infrastructure has to grow, cement has to grow,” Somnath Patil, senior executive director-finance, told Reuters in an interview on Wednesday.
South India-focussed Dalmia operates a 3.5 million tonnes a year plant in Tamil Nadu.
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First Published: Wed, Jul 23 2008. 12 31 PM IST