Dalmia Bharat Group envisages Rs 2,000 cr investment in Odisha

05 December 2016

Continuing to strengthen its position in the East, Dalmia Bharat Group plans to ramp up its cement production capacity in Odisha for an investment of around Rs 2,000 crore.

OCL India Ltd has an installed capacity of 5.4 MT per annum distributed between its two manufacturing units in Odisha, company officials said. Mahendra Singhi, Group CEO, Dalmia Bharat Group, said, Odisha is on a high economic growth trajectory and its GDP is expected to grow at around 12 per cent by 2020. Government’s commitment to industrial development is backed by industry friendly policies which is already showing positive results.

“Odisha has always been our home soil and our business relationship with the state has matured over the years. The state’s zeal to grow further thus compels us to partner its next leap of growth,” he said.

The Odisha government, which has laid a long-term roadmap to enable development and aid industrial growth in the State under its ‘Vision-2025: Odisha Industrial Development Plan 2025’, emphasizes Smart City development, infrastructure revamp and affordable housing, which is likely to provide a fillip to cement demand, he said. Amandeep, Director and CEO, OCL India Ltd, said good governance and stable political leadership has been one of the prime factors that has helped investors show faith in investment in the State.

Additionally, there has been a growing improvement in business sentiment across sectors in Odisha due to investor friendly policies. The concept of a Smart City will get a boost if the Government focuses more on road and power infrastructure. With Government’s focus on affordable housing and Smart cities, cement can expect incremental growth in demand over the next five years, he said.

Source – Moneycontrol