Dalmia Cement signs MoUs with Jharkhand to invest 758 cr in the state
Dalmia Cement (Bharat) has signed three memorandums of understanding (MoUs) with the Jharkhand government to invest Rs 758 crore in the state.
The company would spend Rs 500 crore in the regulatory filing in its production unit at Jharkhand Industrial Area Development Authority (JIAD) Bokaro. Besides expanding its current capacity of 3.7 mmt by debottlenecking, the firm plans to establish a new grinding unit, taking the total cement producing capacity at Bokaro to 6.3 mtpa.
Dalmia Cement has also signed an agreement with the Jharkhand government to establish a solar power plant to supply clean energy to the state. Therefore, Dalmia Cement would spend Rs 250 crore for setting up the solar plant. Apart from this, it also signed one additional MoU for solid waste management. The firm would invest Rs 8 crore for building Material Recovery Facility and Legacy waste-Bio Mining activity under Ranchi Municipal Corporation (RMC).
Mahendra Singhi, MD & CEO, Dalmia Cement (Bharat) Limited, told the media that the demand for cement is growing fast due to the increasing infrastructure investments by the government. He also said that the firm would reach a step closer to their increasing cement capacity plan to 48.5 million tonne by FY24 from 30.75 million tonne in FY21.