Binani plans capacity expansion

Mumbai: Binani group plans to invest Rs 2,000 crore in the next three years to double the capacity from 6 million tonnes per annum (mtpa) to 12 mtpa by 2012.

“We have appointed Ernst & Young as consultant to prepare the roadmap for our fund raising programme. As the capacity expansion involved doubling capacity at our Dubai and China units, we may also consider issuing ADR (American Depositary Receipts) and GDR (Global Depositary Receipts),” Mr Juneja said.

Binani Cement would invest $70 million to double the cement capacity of its plant in China to two mtpa and double capacity in Dubai from 0.85 mtpa.

The company is looking to set up two grinding units overseas — one in Mauritius and the other in the Ivory Coast, Ghana or Nigeria. It is also scouting for mining rights in Indonesia.

Binani Cement will invest Rs 800 crore to set up a greenfield two mtpa manufacturing plant in the coastal part of Gujarat.