"The company has implemented the project within a record time of just 22 months, more than five months ahead of the targeted schedule," Reliance Infrastructure said in a release. (Agencies)
"The project has been implemented at a capital outlay of approximately Rs 3,000 crore, setting a new benchmark in terms of capex efficiency, nearly 25 percent lower than comparable recent transaction values," it added.
Reliance Infrastructure, which operates cement business through a subsidiary, Reliance Cement Company Ltd, had launched its product in Maharashtra market last year with supplies from its 0.5 million tonne per annum (mtpa) Butibori plant.
The 5 mtpa Madhya Pradesh plant would help the firm to expand its presence in central, eastern and northern markets of India.
"We are delighted to add the cement business to our portfolio of high growth infrastructure businesses, serving the long-term needs of our country. Reliance Cement will add the manufacturing mix to our existing range of annuity infrastructure businesses across power, roads and metro rail systems," said Reliance Infrastructure Chairman Anil Ambani.
The Madhya Pradesh unit, the company said, has been designed and built at par with the international standards to be one of the most energy efficient plants in the country and with the highest environmental standards.
Its waste-heat recovery system would help the company to generate 10 MW power.
"The company has implemented the project within a record time of just 22 months, more than five months ahead of the targeted schedule," Reliance Infrastructure said in a release.