ACC gains 3% as board approves Rs 30 billion expansion plan

The stock up 3.5% to Rs 1,485 on BSE, after the cement manufacturer, said that its board approved Rs 30 billion expansion plan.

Shares of ACC moved higher by 3.5% to Rs 1,485 apiece on BSE, after the cement manufacturer said its board approved Rs 30 billion expansion plan.

The company said its board has granted its approval for setting up a Greenfield integrated cement plant at Ametha, Madhya Pradesh along with expansion of the existing grinding unit in Tikaria, Uttar Pradesh and a third grinding unit in Uttar Pradesh.

The board also approved the setting up of 1.1 million tonnes per annum (MTPA) cement grinding facility at the existing location at Sindri, Jharkhand.

The above projects are estimated to