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Cement biz will continue to be main focus: Binani Cem
Binani Cement has made a foray into the real estate sector. The company is all set to develop an IT park on a 56-acre land in Thane. In an interview with CNBC-TV18 its MD Vinod Juneja, threw light on the company’s new foray.
Binani Cement, the flagship company of Binani Industries, has made a foray into the real estate sector. The company is all set to develop an IT park on a 56-acre land in Thane jointly with a partner. Construction of the park will start in a few months' time.
Binani Cement expects the project to be completed by next year. It is also exploring various options for the Thane project including a joint venture. The company is looking at cashing in on its idle landbank and reducing its dependence on the cyclical nature of the cement business.
In an interview with CNBC-TV18, Vinod Juneja, MD, Binani Cement , threw light on the company's new foray.
Here is a verbatim transcript of the interview. Also watch the accompanying video.
Q: Could you tell us about your foray into realty and how land bank that you currently own and when are you planning to up your land bank in order to become full blown realty major?
A: We at Binani Cement are producing about 6.5 million metric tonne of cement in India and another 3 million metric tonne of cement in China, Dubai, and in Mauritius. We are trying to work out - our project team has come from China, and we are trying to see how we can do all the projects.
Q: Could you tell us about your realty plans?
A: We are fundamentally a cement company and our main focus, concentration and goal is to become a cement company. But one of our group companies has some land near Mumbai, where we thought we will have a medical college or engineering college or either some good international school.
Binani Cement, the flagship company of Binani Industries, has made a foray into the real estate sector. The company is all set to develop an IT park on a 56-acre land in Thane jointly with a partner. Construction of the park will start in a few months' time.
