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Lanco Industries withdraws proposal to set up 3 LTPA cement plant

NEW DELHI: Lanco IndustriesBSE 14.00 %today said it has withdrawn the proposal to set up a 3 lakh tonnes per annum mini cement plant envisaging a capital outlay of Rs 125 crore. 

"Considering the present market scenarios of cement in 
Andhra Pradesh, the proposal for setting up of mini cement plant of 3 lakh TPA with Rotary Kiln at an estimated capital outlay of Rs 125 core...has been withdrawn," the company said in a filing to the BSE. 

Lanco Industries, however, said that if the company considers the project at the later late, the same will be informed. 

Last year, the company had informed the BSE that the board of directors has approved the project for setting up of mini cement plant. 

Shares of Lanco Industries today closed at Rs 20 apiece on the BSE, up 0.76 per cent from its previous close.