Indian cement company Sanghi Industries Ltd, Gujarat Heavy Chemicals Ltd (GHCL) and tyre and rubber maker Mahansaria Tyres Private Ltd announced plans to commence new projects with 3,710 crore rupees ($530 million) in Gujarat.
With the investment, Sanghi Industries will expand its existing cement plant’s capacity to 8.6 million tonnes from 4 million tonnes in Sanghipuram, Kutch at a cost of $215 million.
GHCL intends to invest $79 million to set up salt and marine chemicals plant in Kutch, which will be operational by 2021.
Furthermore, Mahansaria Tyres aims to pump in $152 million for a tyres tube and other rubber products project at Panoli in Bharuch district. The entire expansion project will create employment for 5,000 people.