Purvanchal Cement, based in Assam, has set aside Rs 200 crore for acquisitions and growth over the coming years, including foraying into markets outside the northeastern area like West Bengal.
A 0.5 million tonne capacity plant of the Maithon Group company is now located close to Guwahati.
We are weighing brownfield growth and acquisition, preferably with mine rights, in the northern part of Assam, said Vedant Agarwal, managing director of Purbanchal Cement.
“To finance our expansion, we have set aside Rs 200 crore over the next two to three years. We first want to increase our installed capacity to 1 million tonnes,” he said in a statement to PTI.
Agarwal said the company is also looking at opportunities beyond the northeast.
“There are plans to set up a grinding unit in West Bengal to tap the eastern market demand,” he said.
The West Bengal government has been wooing manufacturing industries for investment, banking on robust coal deposits, officials said.
