India’s Sanghi, GHCL, Mahansaria to invest $530 mln in new projects

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.