Prakash Industries to invest Rs 485 cr in Chhattisgarh
Steel maker Prakash Industries said it would invest Rs 485 crore for setting up a cement and a clinker plant in Chhattisgarh.
By PTI |
MUMBAI: Steel maker Prakash Industries said it would invest Rs 485 crore for setting up a cement and a clinker plant in Chhattisgarh.
The company has entered into a Memorandum of Understanding (MOU) with the government of Chhattisgarh on July 1, in this regard, Prakash Industries said in a filing to the Bombay Stock Exchange.
Prakash Industries would establish and operate two million TPA cement plant and one million TPA clinker plant in Chhattisgarh, with an investment of around Rs 485 crore, the filing said.
The state government would assist the company in allotment of a captive coal block and captive lime stone mine for the projects and would provide all incentives available to industrial projects in the state as per the applicable industrial policy.
Shares of the company were trading at Rs 147.25, up 1.38 per cent on the BSE in afternoon trade.
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