Birla Corp plans to invest Rs.2,400 on a green field cement project

Birla Corporation Limited is planning to invest around Rs 2,400 crore for four mtpa greenfield cement plant at Mukutban. The project is waiting for a board approval.

Funding of the project would be a mixture of debt and internal accruals. Birla Corporation had acquired the cement plants of Reliance at a consideration of Rs 4,800 crore. To fund this acquisition, Birla Corporation had taken a loan of Rs 1,000 crore on its books. The company also in the process of setting up a waste heat recovery system at a cost Rs 125 crore.