Total to set up four bitumen plants in India

New Delhi: French energy major Total will invest Rs 100 crore with Indian firm Vinergy International in setting up four bitumen manufacturing plants in the country in the next 3-4 years.

The 50:50 joint venture Total Vineergy Bitumen India has already commissioned a plant at Jodhpur at an investment of about Rs 25 crore and is now selecting sites for units in east, south and west, Total's India Country Chairman Christian Chammas told reporters here.

Vinergy Managing Director Mukul Agarwal said the four plants would have a bitumen manufacturing capacity of 300,000 tonne a year.

Bitumen is used in construction of roads and highways. The joint venture shall provide high quality bitmen and modified bituminous products to the road construction industry.

'We plan to commission one plant a year,' Agarwal said adding the country had a demand of 4.1 million tonne of bitumen as against a supply of 3.7 million tonne. The JV is targeting $50 million in sales in the first year of operation.