Jaiprakash Associates to set up greenfield unit at Umrangsu

Jaiprakash Associates is planning to set up a cement project in Assam. The project involves setting up a 2.0 million tpa Greenfield cement plant at Umrangshu in North Cachar Hills district of Assam. As of August 2009, the company has reportedly signed an MoU with Assam Mineral Development Corporation (AMDC) for setting up the proposed plant. The company is likely to form a JV for the proposed plant, wherein it is expected to hold 82 per cent stake and the balance 18 per cent is likely to be allotted to AMDC. The project is estimated to cost Rs.10,500 million.