Adhunik Cement Ltd, a joint venture between Adhunik Group and MSP Group, both Kolkata-based companies, is on an expansion mode to augment its production to 10 million tonne in the "next few years". Close on the heels of setting up a plant in Meghalaya, the company is now all set to invest Rs 250 crore for setting up another plant of 1.6 million tonne capacity near Guwahati.
"The company has plans to expand its cement business to 10 million tonne by adding further units across India in the next few years, namely in Assam, West Bengal, Madhya Pradesh and Chhattisgarh," said GD Agarwal, chairman of Adhunik Group of Industries, to Business Standard.
The proposal to set up cement plants in three states, in addition to Assam, is in its preliminary stage.
For its proposed Assam plant, the company, said Agarwal, has already signed a memorandum of understanding (MoU) with the Assam government and had purchased land at Sonapur in Kamrup district.
"We are ready to start very soon but all will depend on the government and state clearances," said Agarwal.
He said the company was in possession of the required no objection certificates (NOCs) and has applied for environmental clearances.
The company had invested Rs 700 crore for setting up a cement plant in limestone-rich Jaintia Hills of Meghalaya. The plant has a capacity of producing 1.5 million tonne cement annually.
Yesterday, the company formally launched its cement brand – Adhunik MSP Cement, in the market. The company has set up a 25MW coal-based captive power plant for uninterrupted power supply to its plant.
The company claimed that its Meghalaya-based cement plant was "by far the largest integrated cement producing unit in the eastern region."
Agarwal said that initially the company would target the North-Eastern market through 2,000 retail counters and would subsequently expand to north Bengal and eastern Bihar.
"The erratic demand-supply gap of North-East market will no longer exist with the incorporation of Adhunik MSP Cement in the league as the plant's capacity of 1.5 million tonne is about 30 per cent of the cement requirement of North-East market," said Mahesh Agarwal, managing director of Adhunik Cement.
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