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Birla Corp to invest Rs.2,500 cr in cement plants

Birla Corporation Ltd, the flagship company of the M.P. Birla Group, Wednesday said it is planning to invest about Rs.2,500 crore over the next three years to increase its cement capacity.

The city-based company said it would invest in already announced projects like a 1.5 million tonne cement plant at Chanderia in Rajasthan, one million tonne plant in Assam and in some other projects.

The company's current cement producing capacity is 9.3 million tonne and it would rise to 13.8 million tonne over the next three years, chairman Harsh V. Lodha told reporters after annual general meeting here.

"All these new capacity will generate a total revenue of around Rs.1,600 crore," Lodha said.

He said the cement maker was adding capacities as demands were expected to pick up in the coming quarters.

The company, however, decided to go-slow on it first overseas project in Ethiopia due to sudden glut in the market though the firm had been allotted limestone and coal there.

"Cement market in Ethiopia has turned soft temporarily. So we have kept our plans on hold," Lodha added.