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Zuari Industries to re-enter cement business

Zuari Industries is planning to re-enter cement business after exiting the same in 2006. The company had sold its equity stake to its partner Italcementi and it has rights to set up a cement unit Gulbarga plant (The rights to refuse expire in October 2010 by Italcementi). The company plans to set up a 3 million tpa cement unit with an investment of Rs. 15,000 million. It may be noted, large capacities are expected to come up in the next two years, but in the long run cement remains to be lucrative with bright economic prospects for the country.

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