BAJAJ BROKING

Notification
No new Notification messages
Inventurus Knowledge Solutions IPO is Open!
Apply for the Inventurus Knowledge Solutions IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Ambuja Cements to Invest ₹1,600 Crore in Bihar Cement Grinding Unit

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Ambuja Cements will invest ₹1,600 crore in a 6 MTPA cement grinding unit in Bihar. The unit will be implemented in three phases. The first phase, with a capacity of 2.4 MTPA and an investment of ₹1,100 crore, is scheduled for completion by December 2025.

Ambuja Cements News Today

Ambuja Cements share price will remain in focus today as the leading player in the Indian cement industry has announced a significant investment of ₹1,600 crore to establish a 6 million tonnes per annum (MTPA) cement grinding unit in Warisaliganj, Bihar.

This marks the company's first venture into Bihar, underscoring its commitment to expanding its footprint in the region.

Phased Implementation

The Warisaliganj Cement Grinding Unit will be implemented in three phases. The first phase, with a capacity of 2.4 MTPA and an investment of ₹1,100 crore, is scheduled for completion by December 2025. The company has made provisions for future expansion, which will be undertaken at a lower capital expenditure. The site, located in Mosama village, benefits from excellent road and rail connectivity.

Supporting Bihar's Infrastructure Growth

This project aligns with Bihar's growing infrastructure needs, which are highlighted in the Union Budget. Bihar Chief Minister Nitish Kumar, at the foundation stone-laying ceremony, emphasised that this investment reflects the state's growth potential.

Pranav Adani, Managing Director (Agro, Oil & Gas) and Director of Adani Enterprises Limited, highlighted that the investment supports both the state government's development programs and Ambuja Cements' growth plans.

Land Allocation and Environmental Clearances

The Bihar Industrial Area Development Authority (BIADA) has allocated 67.9 acres of land for the Warisaliganj unit, with environmental clearance already obtained. Additionally, BIADA has allocated 26.6 acres for another cement unit in the industrial area of Mahbal, Motipur, Muzaffarpur, with environmental clearance pending and work expected to commence soon.

Stock Performance

On Friday, Ambuja Cements' share price closed 1.43% lower at ₹654.5 per share on the NSE. Despite this, the stock has seen a robust performance in 2024, gaining 22.5% year-to-date and achieving a 12-month return of 38.05%.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text