Aditya Birla to invest INR57.5bn in cement expansion, India

Indian conglomerate Aditya Birla group plans to invest about INR70bn (US$1.3bn) on setting up new facilities and expanding the capacity of existing units in the southern state of Karnataka, Chairman Kumar Mangalam Birla said on Thursday.

Reuters reports that the group plans to invest INR57.5bn rupees in new cement facilities and about INR11.6bn in expanding its metal and chemical plants in the state.

The invesments will be made over the next three years and are in addition to about INR60bn the group has already invested in Karnataka, a group spokeswoman said, after Birla announced the investment plans in state capital Bangalore.