Cement maker Nuvoco Vistas Corp, as part of its expansion plans, announced an investment of Rs 1,950 crore, which includes Rs 1,500 for setting up a new project in Gulbarga, Maharashtra.
The new facility will help it expand its footprints in the Western and Central India markets, said Nuvoco Vistas Corp, a Nirma Group company, in a statement.
Besides, Nuvoco Vistas will invest Rs 400 crore on debottlenecking and up-gradation of projects at its existing plants and Rs 50 crore to set up alternate fuel material handling facilities.
As part of its growth strategy, Nuvoco Vistas will expand its 6,000 tonne per day (TPD) clinker capacity at Gulbarga in Phase – I with the architecture for higher capacity.
The capital expenditure (CAPEX) for Phase-I of the project is approx Rs 1,500 crore. The ground-breaking for the expansion project is set in FY23, the company said.
It already has an operational limestone mine at the site, Nuvoco Vistas Corp added.
Nuvoco Vistas operates 11 cement plants and is the largest cement company in East India in terms of capacity, offering cement under brands such as Concreto, Duraguard, Nirmax, Double Bull, and Infracem.