Nuvoco Vistas plans to invest $1.500 billion on a 2.18 million tonne per annum clinker facility.
Nuvoco Vistas Corp, India’s fifth largest cement firm, proposes to invest Rs 1,500 crore in Kalaburagi (previously known as Gulbarga) in Karnataka to build a greenfield project with a clinker capacity of 2.18 million tonnes per annum (mtpa). The corporation aims to break ground on the project in the coming fiscal year, according to a statement released on Thursday. It already has a limestone mine on the property, and the new facility will allow it to expand its presence in western and central India. Apart from that, Nuvoco would invest Rs 400 crore to upgrade its blending unit in Bhiwani, Haryana, to a grinding unit, increasing capacity by 2.4 mtpa. The company is well positioned to ride the long-term growth trajectory, according to Jayakumar Krishnaswamy, Managing Director of Nuvoco Vistas, with cement demand expected to expand at a CAGR of 6-7 per cent by FY26.
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