ACC To Raise $100m For Expansion

ACC, India’s second largest cement maker, is likely to raise US$100m to fund a modernisation and expansion plan, reports the Financial Express.

The report, which quoted an unnamed company executive, didn’t specify how the amount will be raised.

ACC plans to expand capacity at its Chaibasa unit in the eastern state of Jharkhand to 1.5Mta from the existing 0.61Mt, says the report.

ACC also plans to modernise its unit in the eastern state of Orissa.