Chettinad Cement Corporation will invest a total of more than INR 37.50 billion (€478.62 million/US$614.98 million) for project plans in Maharashtra, Andhra Pradesh and Karnataka.
The projects will be funded via a combination of debt and internal accruals.
The company will be investing INR 11 billion for a 3.5 million tonne integrated cement plant in Guntur district of Andhra Pradesh.
Another INR 6.6 billion will be spent for setting up a 2x50 megawatts captive thermal power plant and a 2x2 million tonne cement grinding unit at Solapur.
Meanwhile, a 130 MW captive thermal power unit will come up in Karnataka. It will also expand its cement facility from 2.5 million tonnes to 5.75 million tonnes at Gulbarga in Karnataka.
The projects in Karnataka will involve an investment of INR 20.10 billion.
