New Delhi: Ambuja Cements Ltd, part of the Swiss cement giant LafargeHolcim, will invest Rs1,391 crore to set up a greenfield clinkerization plant in Rajasthan.

The board of the company in its meeting held on Tuesday has approved the proposal to set up 3.1 million tonnes clinkerization plant at Marwar Mundawa in Rajasthan. The first phase of the plant would be commissioned in next two years.

“The board of directors have approved an initial investment of Rs1,391 crore towards the first phase of 1.7 million tonnes capacity which is expected to be commissioned in the second half of 2020," said Ambuja Cements in a statement.

At present, Ambuja Cements has a cement capacity of 29.65 million tonnes with five integrated cement manufacturing plants and eight cement grinding units across the country.

On Tuesday, the shares of the company increased by 2.08% to Rs263.10.