JK Cement to invest Rs 7.50 billion on 4th plant

The company hopes to commission the 3-million-tonne per annum, grey cement plant by September or October 2008.

JK Cement Ltd will invest more than Rs 7.5 billion ($161 million) to set up its fourth plant in Karnataka to increase marketshare in the region, a senior official said on Thursday.

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The company hopes to commission the 3-million-tonne per annum, grey cement plant by September or October 2008, AK Saraogi, JK Cement's president for corporate affairs and chief financial officer, said in Kanpur.

The Kanpur-based firm has two grey cement plants and a white cement plant in Rajasthan. It hopes to leverage its existing white cement distribution network in southern India to start selling grey cement from the new plant.