Ultratech to invest Rs 5,000 cr in Uttarakhand

In Uttarakhand, Ultratech Cement will invest Rs 5,000 crore. The company has received a a letter of intent from the State Industrial Development Department asking it to set up its cement plants worth Rs 5,000 crore at Tuni in Dehradun district and at Someshwar in Almora district, the State government said in realease. The government said that an MoU in this regard will be signed after the company fulfils the formalities that follow issuance of the letter of intent. The plant at Tuni will have a capacity of producing 3.5 million tonne of cement per year while the one at Someshwar will have a capacity to produce 2 million tonne of cement per year, it said.