Online edition of India's National Newspaper
Saturday, May 12, 2007
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Online edition of India's National Newspaper Saturday, May 12, 2007 ePaper |
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Special Correspondent
KOLKATA: Asansol-based Burnpur Cement Ltd (BCL) has signed an agreement with the Polysius division of ThyssenKrupp Industries India to set up a one million tonne cement plant in Jharkhand. Ashok Gutgutia, Vice-Chairman-cum-Managing Director of BCL, told reporters here on Thursday that of the Rs. 500 crore proposed to be spent on this project, Rs. 120 crore would be invested in the first phase by 2008, when a five lakh tonne capacity would come up. The balance amount would be spent on a 50 MW thermal power plant and the cement unit.
Eastern region market
The project will have a clinker plant along with ordinary Portland cement, Portland pozzolona cement and Portland slag cement to cater to the needs of the eastern region. The project would be funded through a mix of debt and equity, Mr. Gutgutia said, adding that the equity plans included an IPO (initial public offering) for which the draft prospectus had been submitted to the Securities and Exchange Board of India (SEBI).
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