Ambuja Cements investment update, India

Ambuja Cements, part of the Holcim Group, plans to invest INR18bn (US$358m) by December 2013 to increase capacity.

The investment will be funded through internal accruals. As of the quarter ended December 31, the company had a cash surplus of INR77bn, India Investment News reports.

The Indian cement major plans to establish a 2.2Mta clinker plant at Naguar in Rajasthan, for which a feasibility study has been completed and environmental clearance obtained. Ambuja Cement has also initiated a new brownfield expansion project to raise capacity at is Sankrail grinding plant in West Bengal.

The company also plans to build a new bulk cement terminal at Mangalore as it aims to expand its presence in the south of the country.  The project is scheduled for completion in September.