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Lafarge Plans $1 Billion Investment in Indian Cement Operations
BANGALORE, INDIA--August 11, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Lafarge S.A. (OTC:LFRGY) (Paris, France), the world's second largest cement manufacturer, has announced plans to invest $1 billion in India over the next five years to ramp up its cement production capacity in the country to 20 million tons per year. The company plans to set up three manufacturing facilities, each with a capacity of 2.5 million tons per year, and will also expand its three existing plants to achieve a total capacity of 12 million tons per year. Lafarge forayed into the Indian market in 1999 with the acquisition of the cement business of Tata Steel Limited (BOM:500470) (Mumbai). In 2001, it acquired cement units from Raymond India (Mumbai). In May this year, Lafarge acquired L&T Concrete, the concrete unit of Larsen & Toubro Limited (BOM:500510) (Mumbai) for $350 million.
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