Cement companies reluctant to set up plants in Chhattisgarh

March 3rd, 2008 - 11:09 pm ICT by admin  

Raipur, March 3 (IANS) Only two companies out of the eight cement manufacturers that had signed deals with the Chhattisgarh government to set up units have come forward to make the promised investments, a minister said here Monday. Speaking in the legislative assembly, minister of state for industry Rajesh Munat said: “Only two companies have applied for land to set up plants in the state while there is no headway in the proposals of six other companies that have signed Memoranda of Understanding (MoUs) with the government between a period of January 2004-December 2007.”

The eight companies in separate MoUs had proposed to invest around Rs.90 billion ($2.23 billion) in the state.

While Kolkata-based Imami Cement proposed to set up its plant with an investment of Rs.16 billion, ACC Ltd of Mumbai promised to invest Rs.14 billion for building its unit.

The other companies which signed the deals are; Grasim Industries, Nagda (Rs.12 billion), Monnet Ispat, New Delhi (Rs.14 billion), Jindal Steel, Hisar (Rs.7.2 billion), Rungta Mines, Kolkata (Rs.4 billion), Shree Cement, Ajmer (Rs.10 billion) and Electrosteel Casting, Orissa (Rs 11.5 billion).

Munat said Imami Cement has identified 406 hectares of land while Jindal Steel applied for 80.90 hectares.

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