JK Cement Ltd will invest more than Rs 7.5 billion ($161 million) to set up its fourth plant in Karnataka to increase market share.
New Delhi: JK Cement Ltd will invest more than Rs 7.5 billion ($161 million) to set up its fourth plant in Karnataka to increase market share in the region, a senior official said on Thursday.
The company hopes to commission the 3-million-tonne per annum, grey cement plant by September or October 2008, A K Saraogi, JK Cement's president for corporate affairs and chief financial officer said.
The Kanpur-based firm has two grey cement plants and a white cement plant in Rajasthan. It hopes to leverage its existing white cement distribution network in southern India to start selling grey cement from the new plant.
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