Jaiprakash Associates, flagship company of Jaypee Group, has earmarked Rs 1,050 crore for setting up a greenfield cement plant in Assam with a two million tpa capacity.
The company has reportedly signed an MoU with Assam Mineral Development Corporation (AMDC) for setting up the proposed plant at Umrangshu in North Cachar Hills district. The company is likely to form a JV for the proposed plant, wherein it is expected to hold 82 per cent stake and the balance 18 per cent is likely to be allotted to AMDC.
The project is based on the limestone reserves of 157 million tonne in the region.
Source : ProjectsToday
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