Dalmias to expand presence in North
The South-based cement co to invest Rs 2,000 crore to set up a plant in Himachal Pradesh. It has already received limestone prospecting licence.
By Mithun Roy, ET Bureau |
MUMBAI: Dalmia Cement Bharat, a prominent cement maker in South India, is learnt to be expanding business in the North. According to a source, the company has started acquiring land in Himachal Pradesh for setting up a cement plant.
Dalmia Cement has been granted prospecting licence for limestone in Kariyali-Kothi-Sal-Bagh area in Shimla. It proposes to invest Rs 2,000 crore for setting up the plant.
The company is expected to announce the proposed foray in the Northern market in the next quarter. When contacted, Dalmia Cement chief executive officer and managing director Puneet Dalmia told ET: ���We have plans for North Indian markets. But will divulge details after getting the approval from board.���
Dalmia Cement controls nearly 2% stake of the Southern market with its brands, Superoof and Vajram. It makes ordinary portland cement, blended cement and super specialty cement. It has also been into sugar, refractory and electronic businesses.
The Rs 1,900-crore company has a cement plant in Tamil Nadu with an annual capacity of 3.5 million tonne. It is in the process of adding 1 mt by FY09 with an investment of Rs 4,000 crore. It is expected to be financed on a 2:1 debt-equity ratio. It has also got presence in the eastern region through OCL India where it holds 22%.
Dalmia Cement has been granted prospecting licence for limestone in Kariyali-Kothi-Sal-Bagh area in Shimla. It proposes to invest Rs 2,000 crore for setting up the plant.
The company is expected to announce the proposed foray in the Northern market in the next quarter. When contacted, Dalmia Cement chief executive officer and managing director Puneet Dalmia told ET: ���We have plans for North Indian markets. But will divulge details after getting the approval from board.���
Dalmia Cement controls nearly 2% stake of the Southern market with its brands, Superoof and Vajram. It makes ordinary portland cement, blended cement and super specialty cement. It has also been into sugar, refractory and electronic businesses.
The Rs 1,900-crore company has a cement plant in Tamil Nadu with an annual capacity of 3.5 million tonne. It is in the process of adding 1 mt by FY09 with an investment of Rs 4,000 crore. It is expected to be financed on a 2:1 debt-equity ratio. It has also got presence in the eastern region through OCL India where it holds 22%.
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