Jaypee Group Cement Plant To Go On Stream By Year End (19-Feb-2010)
The Jaypee group is quite bullish on the cement sector as the group is setting up a five-million-tonne-per-annum cement plant in Krishna district of Andhra Pradesh with a cost of Rs 2,000 crore.
The plant is likely to go on stream by this year end, according to Mr Sajjan Gaur, the Director.
He said this while he was briefing the reporters regarding the proposed IPO by the Jaypee Infratech in order to fund its Yamuna Expressway project from Noida to Agra.
He said that the Jaypee Infratech was gearing it self for the IPO of Rs 1,650-crore and the issue may hit the market during March. However, he expressed the confidence that it would fare very well even in the current market conditions.
However, he added that the price band decided later.
Meanwhile, he also said tat the expressway is scheduled to be completed by 2013, may be completed by 2011.
On the top of this, Mr Gaur said that another project is being executed by the Jaypee group in Andhra Pradesh - the Srisailam tunnel project, along with the AP Government and the company was making an investment of Rs 1,925 crore on it.
Besides this, Jaypee Group will make an investment of Rs 1,250 crore on raising the cement grinding capacity of its plant in Himachal Pradesh.
Moreover, the company has proposed to add another 2.5 million tonnes (MT) per annum of cement grinding capacity with the projected investment. The company currently has cement grinding and clinker grinding capacity of 4.5 MT per annum at Solan plant that caters to northern market, including Punjab as well as Himachal Pradesh and Jammu and Kashmir.
The Group has targeted to have a total cement making capacity of 34 MT by 2012 as against the current of 20 MT from all its plants across the country.
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