IME Group, a Nepal-based business conglomerate, has announced plans to invest NPR10bn (US$89.89m) for a cement plant in Chormara, Nawalparasi.
"We decided to venture into the cement industry after forecasting the increasing demand for cement in the future," said Chandra Dhakal, chairman. "The demand for cement will exponentially rise in the coming years as the local governments will be focusing on infrastructure development."
As such, the company has already acquired around 10.5ha of land in the province. Limestone will be supplied from a mine located 25km away from the plant site, which holds approximately 18.72Mt of raw material, according to the Investment Board of Nepal.
While the capacity of the project has not been announced, it is expected to enter operation in four years. Mr Dhakal stated that the process will be expedited after the completion of the Nepal Investment Summit on 29-30 March, where the company will showcase IME Cement.
