Ambuja Cements to invest Rs 310 crore to cater northern markets in India
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Ambuja Cements, on Monday said it will invest Rs 310 crore to expand the production capacity of its plant at Ropar, Punjab, over the next two years.
The said investment is a part of Ambuja Cements Ltd (ACL) aim to have a total cement capacity to 50 MTPA (million tonnes per annum)in the mid-term and in anticipation of a growing demand for cement triggered by the steady growth in India's urbanisation leading to more investment in public infrastructure and housing, the company said in a statement.
The expansion at the Ropar plant is expected to be completed by June 2023 and after this total capacity of the cement grinding unit at Ropar will increase to 4.5 MTPA from 3 MTPA now, it added.
''This expansion will help the company maintain its share and competitiveness in the northern markets in India. The Ropar brownfield expansion is part of the company's strategy to increase its total cement capacity to 50 MTPA in the mid-term,'' said Ambuja Cements.
Ambuja Cements MD and CEO Neeraj Akhoury said the company is optimistic about the growth in demand for cement in India.
