Vicat builds up its positions in India for the long term
During French President Emmanuel Macron’s state visit to India, the Vicat Group has entered into two framework agreements with the Indian States of Andhra Pradesh and Karnataka to support them with their economic development. Under these agreements, the Vicat Group is set to make investments expanding its existing facilities, demonstrating its determination to build up its positions in India over the long term.
The Vicat Group is in India since 2008 with two cement plants– Kalburgi Cement, a wholly-owned subsidiary, and Bharathi Cement – representing a total cement capacity of close to 8 million tonnes. Given the Indian market’s strong growth potential and its economic development, especially in the construction sector, the Vicat Group, represented by Guy Sidos, Chairman and Chief Executive Officer, has entered into two framework agreements with the State governments of Karnataka and Andhra Pradesh on 10 March 2018 during the State visit by the French President. The Group has confirmed its long-term interest in this market brimming with opportunities by announcing plans to double its cement production capacity at its Kalburgi Cement plant, located in Karnataka, with the construction of a new kiln over the coming years. In addition, Vicat has undertaken to build a new grinder to strengthen its positions in the very fast-expanding Andhra Pradesh market.