Binani to invest Rs 4,200 cr in Gujarat

Binani Cement on Thursday said it has signed a Memorandum of Understanding (MoU) with the Gujarat government to set up a 610 MW power plant, a captive jetty and 5 million tonnes per annum (mtpa) cement making facility entailing an investment of Rs 4,200 crore.

"The MoU was recently signed between Gujarat Government and Binani Cement during the Vibrant Gujarat Summit. Binani is investing a total of Rs 4,200 crore for these projects," the company said in a statement.

During the 2009 edition of Vibrant Gujarat, Binani Cement had signed a MoU to set up a 2.5 mtpa cement plant and a ditto was signed during the on-going annual event of the state for attracting fresh investment. The proposed Rs 4,200 crore outlay includes the likely investment in the previously signed MoU for setting up the 2.5 mtpa cement plant as well.

The cement plant would be located in Sutrapada district of Junagadh spread across 188 hectares. It would manufacture both Ordinary Portland Cement (OPC) and Pozzolona Portland cement (PPC) in equal ratio.

Binani Cements said the 610 MW thermal power plant construction would come up in three phases starting with 110 MW and then 210 MW each in subsequent two phases. The MoU with the Gujarat Maritime Board to set up the jetty having 10 mtpa capacity would also be built in three phases, it said. Including its subsidiaries in Dubai and China , Binani has 8.75 mtpa cement manufacturing capacity now.