To cater to increasing cement demand in Gujarat and Madhya Pradesh, India Cements plans to expand its capacity in Rajasthan plants with the possible investment of around Rs 650-700 crore, the company Vice-Chairman and Managing Director N Srinivasan said.
Cement industry has expressed concern about the Railway Ministry’s proposal to pass on the rising costs of fuel on to the freight tariff. Apart from the potential to drive up cost of freight, industry representatives were worried about the 'uncertainty' this would introduce into the freight cost. N Srinivasan, Vice-Chairman and Managing Director, India Cements, said the move 'leaves the industry in suspense' on the frequency and basis of hike.
The Karnataka government has estimated that it needs at least Rs 80,000 crore for Bangalore city needs such as for infrastructure, road development, drainage and several development activities. This was disclosed by the State Urban Development Secretary PN Srinivasachari.