Purbanchal Cement, an Assam-based company has earmarked ₹200 crore for acquisition and expansion over the next few years, including launching into markets outside the northeastern region like West Bengal, as per reports.
The Maithan Group company at present has a 0.5-million tonne capacity plant set up near Guwahati.
As per reports, Vedant Agarwal, Purbanchal Cement, MD said, “We are evaluating between brownfield expansion and acquisition preferably with mine rights in the northern part of Assam. We have earmarked ₹200 crore over the next two-three years to fund our expansion. Initially, we are aiming at ramping up our installed capacity to 1 million tonnes.”
Purbanchal Cement is looking for opportunities which go beyond the northeastern region.
“There are plans to set up a grinding unit in West Bengal to tap the eastern market demand,” Vedant Agarwal further said.
As a result of the coal shortage, the industry is experiencing severe cost pressure, which has led to price volatility. However, things seem to be improving, albeit slowly,” Agarwal said.
In recent times, cement makers have been hit by high commodity prices and supply hurdles. The West Bengal government had been pursuing manufacturing industries for investment, banking on robust coal deposits, as per the officials as per reports.