Birla Corp to seek board approval for Mukutban plant

Birla Corp is due to put its proposal plans for a greenfield plant at Mukutban near Yavatmal district, India, before its board of directors for approval.

"We are planning to invest around INR2400 crore [US$375m] for the 4Mta greenfield cement plant at Mukutban. We will now go to the board for approval," said Harsh V Lodha, chairman of Birla Corporation, in a press release following the company's AGM on Monday. The new plant would be funded through a mixture of debt and internal accruals, he said.

Upon completion of the new plant, the group's total cement capacity would increase from the current 15.5Mta (after the acquistion of Reliance Cement) to touch 20Mta.