UltraTech cement signs MoU with RIICO for railway siding project
UltraTech Cement signed a memorandum of understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) for commissioning of a railway project in Sikar and Jhunjhunu districts. The MoU was signed by RIICO's managing director Rajendra Bhanawat and Ultratech Cement Ltd Assistant Vice President Rakesh Misra. As per the agreement, RIICO will acquire 67.812 hectares of land in Sikar and Jhunjhunu districts for the project. "The company will lay a 6 km railway siding from villages Kolida and Beri in Sikar district to the plant site in village Turkani in Jhunjhunu district. The company is setting up a 3 million tonnes cement project with an estimated investment of Rs 2,500 crores," he said. The project spread across 1,006 hectares, is likely to generate direct and indirect employment to 2,500 persons. This will be the third cement company in the last one year which has signed an agreement with RIICO for cement projects in the state.