In a communication to the stock exchange, Lanco Industries said it shelved the plan to set up a Rs 125 core mini cement plant of 3 lakh tonne per annum capacity with Rotary Kiln in Andhra Pradesh.
The company withdrew the proposal considering the present market scenarios of cement in Andhra Pradesh, the firm said in the communication.
The firm said it would inform the Bombay Stock Exchange (BSE) if it considers the project at a later date. Last year, the company had informed the BSE that the board of directors has approved the project for setting up of mini cement plant.