Ambuja Cement announces greenfield investment and CEO resignation

The Board of Directors of Ambuja Cements Ltd (LafargeHolcim group) has approved an initial investment of INR3,900m (US$54.1m) for the first phase of the 1.7Mta greenfield clinker line project at Marwar Mundwa in the State of Rajasthan, India.



The Board of Directors of the company has also approved an additional clinker capacity of 1.4Mta (taking the total clinker capacity to 3.1Mta), additional cement grinding capacity of 1.8Mt and a captive power plan and waste heat recovery system at Marwar Mundwa, for an additional estimated cost of INR9,600m taking the total investment to INR23,500m.

The above projects are proposed to be funded through internal accruals. With this expansion Amubja Cement's total cement capacity will increase to 31.5Mta.

Meanwhile, the company’s managing director and CEO, Ajay Kapur, has handed in his resignation and will step down from the post on 15 March 2019. Mr Kapur’s successor will be announced in due course, according to a company press release.