Orient Cement signs MoU with Telangana to invest Rs 2,000 cr
Monday - August 6, 2018 10:10 pm ,
Category : BUSINESS
Orient Cement signs MoU with Telangana to invest Rs 2,000 cr
Hyderabad Aug 6 (IANS) Orient Cement Ltd a part of C.K. Birla Group on Monday signed an MoU with Telangana government to expand the capacity of its plant in the state with an investment of Rs 2 000 crore.
The company will double the capacity of its factory at Devapur in Mancherial district to 2.60 million tonnes of cement per annum.
The Memorandum of Understanding (MOU) was signed by the officials from the two sides in presence of Telangana s Industry Minister K.T. Rama Rao and C.K. Birla Group Chairman C.K. Birla.
Rama Rao told reporters that this expansion will create 4 000 direct jobs and indirect employment to another 4 000 people. He urged Orient Cement to provide jobs to locals and said if necessary the government would set up a centre to provide training to them.
He said since it is a forest area and the company cannot mine there the mining will be through Telangana State Mineral Development Corporation (TSMDC). He said the limestone deposits are being given through TSMDC.
The Minister said under Telangana s industrial policy a multi-faceted strategy is being adopted to attract new investments facilitate expansion of existing business and revive sick industrial units.
Birla said the process to obtain all clearances from the Centre for the expansion was progressing at fast pace and expressed the hope that they would soon get the clearances. He said the expansion work would commence soon.
--IANS ms/nir
The company will double the capacity of its factory at Devapur in Mancherial district to 2.60 million tonnes of cement per annum.
The Memorandum of Understanding (MOU) was signed by the officials from the two sides in presence of Telangana s Industry Minister K.T. Rama Rao and C.K. Birla Group Chairman C.K. Birla.
Rama Rao told reporters that this expansion will create 4 000 direct jobs and indirect employment to another 4 000 people. He urged Orient Cement to provide jobs to locals and said if necessary the government would set up a centre to provide training to them.
He said since it is a forest area and the company cannot mine there the mining will be through Telangana State Mineral Development Corporation (TSMDC). He said the limestone deposits are being given through TSMDC.
The Minister said under Telangana s industrial policy a multi-faceted strategy is being adopted to attract new investments facilitate expansion of existing business and revive sick industrial units.
Birla said the process to obtain all clearances from the Centre for the expansion was progressing at fast pace and expressed the hope that they would soon get the clearances. He said the expansion work would commence soon.
--IANS ms/nir
