MP fast-tracks 10 cement investments

Ten corporate houses in the cement sector will clear their big-ticket investment plans with the MP government. A number of them have been in the queue for two years, with the necessary infrastructure and resources.

All these firms recently signed deals with the state government but they are yet to come up with formal proposals.

According to an estimate, about Rs 21,000 crore is likely to be invested provided limestone mines are available.

"We are expecting detailed investment plans from each firm by November 15," said Praveen Garg, managing director, Madhya Pradesh State Industries Development Corporation.

The big firms interested in the country's second-biggest cement-manufacturing state include Anil Ambani-promoted Reliance Energy (Rs 8,000 crore) for a 10-million-tonne plant; Hyderabad-based Sanghi Industries (Rs 5,000 crore) for a 3.5-million-tonne plant, and a captive power and steel plant; ACC (Rs 1,200 crore) for a 4-million-tonne plant; RS Lodha-promoted Birla Corporation (Rs 1,200 crore); the Rajan Raheja group (Rs 800 crore) for a 2-million-tonne cement plant, MSP Steel & Power Ltd (Rs 1,000 crore) for a one-million-tonne cement plant and a 2-million-tonne steel plant; Man Cement Pvt Ltd (Rs 275 crore) for a 0.5-million-tonne plant, BLA Power (Rs 500 crore, capacity not known); and Shree Cements (Rs 2,000 crore) for cement and a 50 MW captive power plant.

Of these investors a few have mining leases while others have applied for them. "We have urged those who have expressed their interests to give us a detailed plan on their requirement for power, land, water or limestone mine leases. Some have mining leases and we hope they start their work soon," Garg added.

According to cement industry sources, cement production has gone up by only 4 per cent in Madhya Pradesh, and consumption has increased by 21 per cent.