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Icore Group plans to invest in Orissa

July 20, 2010 Leave a comment

Icore Group, the Kolkata based company with interests in steel making, cement, gems and jewellery apparel and paints, proposes to pump in Rs 5,000 crore in Orissa setting up a 1.8 million tpa steel plant and a cement crushing unit with a capacity of 5,000 tpd.

The steel cum cement complex is to be spread over 80 acre at Somanthpur in Balasore district. The Group expects to sign an MoU with the Orissa Government shortly. It has submitted the DPR to the Industrial Infrastructure Corporation of Orissa.

Initially, Icore is likely to start the steel plant with a capacity of 0.36 million tpa at a cost of Rs 1,000 crore and later scale up to 1.8 million tpa. While the cement crushing unit is set to commence operations from December 2010, the steel plant is expected to be operational by March 2011.

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Categories: Cement, Metallurgy Tags:

Shiva Cement plans capacity expansion

December 1, 2009 Leave a comment

Shiva Cement, the Orissa based company, proposes to expand its production capacity from the current 2.3 to 2.96 million tonne at its facility at Telighana in Sundargarh district.

The company plans to invest Rs 163.5 crore on the expansion so as to meet the region’s rising demand. The company proposes to fund the project with a term loan of Rs 80 crore while the remaining amount is expected to arrange through internal accruals.

Shiva has appointed Ercom Consulting as the consultant for the project.

Categories: Cement
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