Reliance Cementation (RPCL), subsidiary of Reliance Infra Limited , is looking to raise Rs 2,780 crore for cement production, reports CNBC-TV18's Neha Bothra.
About Rs 1,850 crore would be raised through debt and balance via equity. This is mainly to set up production in cement of around 5 million tonnes per annum.
RCPL has identified key markets in Uttarakhand, Chhattisgarh, Uttar Pradesh and Madhya Pradesh. A research firm recently came out with a report, which stated there will be an 8 million tonne per annum of shortage of cement supply by financial year 2014.
So this is something RCPL is trying to tap into. However the Anil Dhirubhai Ambani Group (ADAG) group didn't reply to CNBC-TV18's queries.
