Ultratech Cement to invest Rs 5,000 crore in Uttarakhand

DEHRADUN: Cement manufacturing company Ultratech Cement will make investments worth Rs 5,000 crore in Uttarakhand.

The Industrial Development Department has issued a letter of intent to the company asking it to set up its cement plants worth Rs 5,000 crore at Tuni in Dehradun district and at Someshwar in Almora district, an official release quoting state's Additional Chief Secretary Rakesh Sharma said.

The plant at Tuni will have a capacity of producing 3.5 million tonnes of cement per year while the one at Someshwar will have a capacity to produce 2 million tonnes of cement per year, it said.

An MoU in this regard will be signed after the company fulfils the formalities that follow issuance of the letter of intent.

An investment of this scale is being made for the first time in the state and it is likely to boost the revenues besides creating job opportunities for the local people, Sharma said, adding that the company will not be allowed to violate any environmental norms.