Birla Corp.'s board has approved setting up a greenfield cement grinding unit at Prayagraj in Uttar Pradesh.
The firm intends to enhance its cement grinding capacity from 9.81 million tonne per annum to 11.2 million tonne with the establishment of a 1.4 million tonne greenfield unit, the company said in an exchange filing on Monday.
This capacity increase will require Rs 400 crore in investment, to be funded through a combination of loans and internal earnings, the company said. The addition of this unit is anticipated to occur by fiscal year 2026.
The company's choice is influenced by the anticipated strong demand in the central region, with the unit's primary focus being the markets of eastern Uttar Pradesh, it said.
Shares of Birla Corporation traded 1.27% higher at Rs 1,312.10 a piece, compared to the 0.93% rise in the Nifty 50 as of 3:06 p.m.
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