MUMBAI: The work on JK Cement's three million tonne greenfield cement plant in Karnataka will commence in December this year and the company has already signed contracts for machinery worth more than Rs. 150 crore. The total project cost is estimated at Rs. 900 crore.

The company, according to a release, is targeting the markets of Maharashtra, Karnataka and some pockets of Andhra Pradesh. While most of the factory land has been acquired at Mudhol in District Bagalkot, the entire factory and mining land will be acquired by March 2007. The plant is expected to go on stream in the second half of 2008.

JK Cement recently bought over group company Jaykaycem Ltd. for the Karnataka venture and through this purchase had acquired mining rights of limestone with proven reserves of 82 million tonnes, equivalent to 30 years' production requirement.

The company's power projects at the existing plant at Nimbahera in Rajasthan are likely to be completed on schedule with the commissioning of 10 MW turbine by December 2006, while the petcoke-based power plant and waste heat recovery plant should be completed by April and June 2007, respectively.

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