Nuvoco Vistas to pump in Rs 1,950 cr as part of expansion plans
Company News

Nuvoco Vistas to pump in Rs 1,950 cr as part of expansion plans

On Thursday, Nuvoco Vistas Corporation, a cement maker announced an investment being a part of their expansion plans worth Rs 1,950 crore, including Rs 1,500 to set up a new project in Gulbarga, located in the state of Maharashtra.

In a statement the company said, this new facility to assist the expansion of the company in the Western and Central India markets.

In a statement, the company said that this new facility will help them in expanding their footprints in the markets in the Western as well as Central India.

Additionally, Nuvoco Vistas plans to invest Rs 400 crore in the debottlenecking and up-gradation of their existing plants as well as Rs 50 crore for setting up alternate fuel material handling facilities.

Their growth strategy includes expansion of their clinker capacity of 6,000 tonne per day at Gulbarga in Phase-I along with a higher capacity architecture. The project’s Phase-I capital expenditure (capex) is approximately Rs 1,500 crore.

The company said that the expansion project’s ground-breaking is set in FY23. They further added that they already have an operational limestone mine at the site.

Chairman Hiren Patel said their recent Budget re-emphasised the country’s growth story having a focus on infrastructure as a key enabler.

Projects such as Gati Shakti to provide the required power, efficiency, and speed to the mega infrastructure projects to be launched in India on the way to economic success.

Image Source

Also read: Cement firms to pump Rs 1,700 cr for waste heat recovery system

On Thursday, Nuvoco Vistas Corporation, a cement maker announced an investment being a part of their expansion plans worth Rs 1,950 crore, including Rs 1,500 to set up a new project in Gulbarga, located in the state of Maharashtra. In a statement the company said, this new facility to assist the expansion of the company in the Western and Central India markets. In a statement, the company said that this new facility will help them in expanding their footprints in the markets in the Western as well as Central India. Additionally, Nuvoco Vistas plans to invest Rs 400 crore in the debottlenecking and up-gradation of their existing plants as well as Rs 50 crore for setting up alternate fuel material handling facilities. Their growth strategy includes expansion of their clinker capacity of 6,000 tonne per day at Gulbarga in Phase-I along with a higher capacity architecture. The project’s Phase-I capital expenditure (capex) is approximately Rs 1,500 crore. The company said that the expansion project’s ground-breaking is set in FY23. They further added that they already have an operational limestone mine at the site. Chairman Hiren Patel said their recent Budget re-emphasised the country’s growth story having a focus on infrastructure as a key enabler. Projects such as Gati Shakti to provide the required power, efficiency, and speed to the mega infrastructure projects to be launched in India on the way to economic success. Image Source Also read: Cement firms to pump Rs 1,700 cr for waste heat recovery system

Next Story
Infrastructure Transport

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

Next Story
Infrastructure Transport

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

Next Story
Real Estate

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?