The cement manufacturer informed that it proposes to establish a cement grinding unit with an investment of Rs 1000 crore in Motia Village of Jharkhand with a capacity of 4 million tonnes per annum (mtpa).
The unit will generate direct and indirect employment for over 2,500 individuals, significantly contributing to the economic and social progress of the state, stated the cement maker.The company already operates two cement plants in Jharkhand with a combined capacity of 6 MTPA. It added that the proposed expansion demonstrates Ambuja Cements' confidence in the region's potential for growth and development.
Ajay Kapur, CEO, Cement Business, said, "With our proposed investment in this new cement grinding unit, we intend to achieve a significant milestone in our commitment to expanding our presence and contributing to the socio-economic development of the region. We believe that Jharkhand holds immense potential in terms of resources, infrastructure, and skilled manpower, making it an ideal location for this project.
We look forward to working closely with the state to ensure the successful implementation of this project. Ambuja Cements is proud to be a part of Jharkhand's growth story, and we remain committed to creating value for our shareholders, customers, employees, and the community at large.
Ambuja Cements is engaged in the business to manufacture and market cement and cement related products.
The companys consolidated net profit surged 89.5% to Rs 823.05 crore on 2.8% increased in revenue from operation to Rs 8,128.80 crore in Q3 FY24 over Q3 FY23.
The scrip shed 0.59% to Rs 585.30 on the BSE.
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