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Cement

Visaka setting up new asbestos cement plant in Orissa

10/27/2009 02:30:00 PM

Chennai, Oct (EPC News): To meet the rural demand in the state of Orissa, Visaka Industries is setting up a 100,000 tonne capacity asbestos cement sheet plant at Sambalpur in Orissa at an estimated cost of Rs40 crore.

Apart from setting up the plant in Orissa, the company will also undergo capacity addition program at its Pune plant from 65,000 tonne to 100,000 tonne with an investment of Rs15 crore. The plant is expected to be ready by 2010.

Visaka, which is diversifying into the power segment, has also signed a memorandum of understanding with the Orissa government for setting up a 1,000-Mw power plant in two phases at an estimated to cost Rs4,000 crore. It has initiated the land acquisition process and will form a special purpose vehicle in a joint venture to execute the project. Internal accruals and long term debt will be sought for the project.

EPC News Bureau