Concast to Set up Rs 8 bn Cement Plant in Arunachal

Kolkata-based Concast Group is planning to set up a 1.2 million tonnes per annum (mtpa) cement plant at Arunachal Pradesh, pumping in an estimated investment of Rs 8 billion.

The company, which has recently acquired majority stake at a 0.5 mtpa cement plant at Jamshedpur (Jharkhand), is also looking to invest Rs 3 billion to expand the capacity of the plant to 1.2 mtpa by the end of 2012.

The company also plans to invest Rs 5.50 billion to upgrade capacity of its Jharsuguda (Orissa)-based steel plant from 0.5 mtpa to 1.4 mtpa.

Concast, which is eyeing to diversify into hospitality sector, has acquired two acres at a cost of Rs 96 crore off EM Bypass in Kolkata. It plans to develop a 150-room hotel and residential complex at the site.