Ambuja Cements plans to invest Rs 18 billion

Ambuja Cements plans to invest Rs 18 billion by December 2013 to expand its production capacity. The company proposes to fund the project through internal accruals. It had surplus cash of Rs 77 billion as of December last year.

The company will set up a 2.2-million-ton clinkerisation unit at Nagaur in Rajasthan. The feasibility study for the project is completed and environmental clearance has been obtained.

To expand its footprint in the southern markets, the company proposes to set up a new bulk cement terminal at Mangalore. The terminal will be operational by September. A new brownfield expansion project to enhance capacity at its Sankrail grinding unit in West Bengal has also been initiated.