Northeast-based Star Cement on Wednesday said it plans to expand its capacity by an additional two million tonnes through a greenfield project in Assam’s Silchar at a cost of Rs 400 crore.

The expansion is expected to be completed within the next two years, the firm said.

The promoters of Star Cement dismissed reports of any stake sale talks and emphasised that their focus is on strengthening the business.

Recent media reports suggested that the Adani Group might be considering acquiring the company.

“The new grinding unit in Silchar will have a capacity of two million tonnes and is expected to be operational within the next two years. The land for the project has already been acquired,” Star Cement joint managing director Sanjay Agarwal told PTI.

“We have built our cement business over a long period and are leaders in the Northeast. At a time when the building materials sector is growing, we are not looking to exit this business,” Agarwal said.