Binani Cement plans to invest around Rs 1,700 crore for capacity expansion in India

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and abroad. The investment will be spread over several tranches by 2012 for greenfield expansion plans in Gujarat, mine development in Rajasthan, grinding unit in Mauritius and for enhancement of cement production in China.

“The entire corpus of funds will be raised through a mix of debt and equity in a 1:1 ratio,” said Vinod Juneja, managing director of Binani Cement.

The company reported 100 per cent profit growth in the first quarter of the current financial year. The net profit for the company, in the present quarter, stood at Rs 107 crore as compared to Rs 53 crore in the corresponding quarter of the last financial year.