LafargeHolcim to invest $213mn into India growth strategy
The Swiss building materials manufacturer, LafargeHolcim, has announced its plans to commit SHF200mn (US$213mn) to Indian investment.
The firm is to construct a new cement plant, locacted in the Rajasthan state in the north of the country.
The plant will serve customers across the North of India, with Delhi anticipated to be a larger consumer.
The plant will be developed by Ambuja Cement, a subsidiary of LafargeHolcim.
The company aims for the facility to have a clinker capacity of 3.1mn tonnes per annum.
“India is the second biggest global cement market and is forecasted to continue to see high growth rates,”remarked Group CEO of LafargeHolcim, Jan Jenisch.
“We are excited to invest in this highly attractive market to further strengthen our footprint and to reinforce our leading building materials position in India.”
LafargeHolcim aims for the plant to be commissioned by the second half of 2020.
The firm has a total cement capacity of more than 60mn tonnes across India through its two subsidiaries – Ambuja Cement and ACC Limited.
The Swiss company have contributed more than CHF8bn ($8.54bn) to it’s Indian operations, becoming one of the nation’s largest foreign investors.