OCL India to raise $ 40 mn from IFC for its cement plant
Cement

OCL India to raise $ 40 mn from IFC for its cement plant

The proposed fund raising is to support the company's $102 million investment plan for a 1.35 million tonnes per annum capacity cement plant at Medinipur, West Bengal.

Group's OCL India is planning to raise around $40 million from International Finance Corporation (IFC) for its cement plant at Medinipur in West Bengal. The proposed fund raising is to support the OCL's $102 million investment plan for a 1.35 million tonne per annum (mtpa) capacity cement plant.

The project will be located at village Kulapachuria, Salboni sub-division. As a part of developing Godapaisal Industrial Park, the West Bengal Industrial Development Corporation has acquired and leased 154.43 acres of land for the project to OCL as the anchor investor.

The investment cost for the project is estimated at $102 million and IFC is evaluating an A-Loan of $40 million to part-finance the project. The balance funding requirement will be met through rupee debt and internal accruals, said the corporation.

The project is expected to take 27 months to construct and thus be operational by January 2014. It will contribute around $7 million per annum of tax revenues to the exchequer, according to the OCL's project disclosure.

The proposed fund raising is to support the company's $102 million investment plan for a 1.35 million tonnes per annum capacity cement plant at Medinipur, West Bengal. Group's OCL India is planning to raise around $40 million from International Finance Corporation (IFC) for its cement plant at Medinipur in West Bengal. The proposed fund raising is to support the OCL's $102 million investment plan for a 1.35 million tonne per annum (mtpa) capacity cement plant. The project will be located at village Kulapachuria, Salboni sub-division. As a part of developing Godapaisal Industrial Park, the West Bengal Industrial Development Corporation has acquired and leased 154.43 acres of land for the project to OCL as the anchor investor. The investment cost for the project is estimated at $102 million and IFC is evaluating an A-Loan of $40 million to part-finance the project. The balance funding requirement will be met through rupee debt and internal accruals, said the corporation. The project is expected to take 27 months to construct and thus be operational by January 2014. It will contribute around $7 million per annum of tax revenues to the exchequer, according to the OCL's project disclosure.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?