Jaypee, Assam Mineral to set up Rs1050-crore cement plant

03 Aug 2009

Jaiprakash Associates Ltd (JAL), the flagship company of the diversified industrial conglomerate Jaypee Group, signed a memorandum of understanding (MoU) with the Assam Mineral Development Corporation Limited (AMDC) on Saturday, for setting up a cement plant of 2 million tonne per annum (MTPA) capacity in joint venture at an approximate cost of Rs1,050 crore.

The agreement was signed by Manoj Gaur, executive chairman, JAL and J P Baruah, managing director, AMDC in a function at Gauhati in presence of Assam chief minster, Tarun Gogoi Ji.

The new cement plant will be located at Umragshu in North Cachar Hills district, which has limestone reserves of around 157 million tonnes.

The chief minister appreciated Jaiprakash Group for their efforts to set up a large cement plant in the state further adding that the state government would provide all possible help to such investors.

Out of the 23 proposals the state government received for setting up cement plants in the state, JAL was selected for awarding the AMDC limestone block in phase 1. Another block may be offered to the Birla Corp. Ltd. at a later date.

It was agreed to incorporate a joint venture company for setting up of the cement project.