Grasim cement industries of Aditya Birla group, is to build the proposed Rs.10 billion Sundernagar cement plant in Mandi district. Grasim acquired the task of setting up the plant from the Harish Chandra Company. Recently they purchased shares of Rs. 10 lakh. Due to weak financial condition of Harish Chandra co., it could not raise enough capitol so this plant was delayed for long. This is going to provide jobs to more than 1000 locals and thousands of other jobs would bring some respite to local economy.
Plant is supposed to produce some 1.27 million tonnes of cement annually. Grasim says, work on the plant is likely to start by the year-end and production is expected to start after 22 months.
The state government is working with many other large cement companies for major projects, it has already invited bids for Al Sindhi, another proposed cement plant in Mandi district, and top cement companies have applied including multinational French giant Lafarge.