Diversified Jaypee group today said it will invest around Rs 6,000 crore by 2012 to develop a cement plant, even as it inaugurated a 2.4 million tonne facility to manufacture the construction material.
"Jaypee group has plans to invest in the cement manufacturing sector with investment at around Rs 6,000 crore in Gujarat in the coming three years," group founder Jaiprakash Gaur told PTI.
Gujarat Chief Minister Narendra Modi today dedicated Jaiprakash Associates' 2.4 million tonnes per annum (MTPA) capacity cement plant in Sewagram in Kutch, Gujarat.
Jaiprakash Associates (JAL), the flagship company of the industrial conglomerate Jaypee Group having interests in civil engineering, cement, power, real estate and hospitality, has invested Rs 1,500 crore in the first phase of Gujarat cement project and commissioned 2.4 MTPA cement plant at Sewagram in Kutch region.
Apart from having state-of-the-art technology, cement plant will also have an emergency backup of 35 Mw DG power and has a 100 per cent captive thermal power generation plant that will generate 22 Mw in the first phase and 50 Mw in the second phase.