NCL Industries approves ₹595 cr solar-wind investment in Tamil Nadu, eyes cement plant in Odisha

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Separately, the company's board has granted in-principle approval to pursue a proposal to establish a cement manufacturing plant in Odisha. As part of the process, NCL Industries will approach the Odisha government for project land and pursue the necessary applications and approvals.

Manufacturer of cement, ready-mix concrete, and other building materials, NCL Industries Ltd, on Thursday (November 12) approved an investment of ₹595.17 crore for the implementation of Phase II and III of its 130-megawatt (MW) solar and wind power project in Tuticorin, Tamil Nadu.

With this approval, the total estimated cost of the entire project has increased to ₹987.17 crore. The latest approval covers the remaining 80 MW capacity of the project.

The company had earlier approved Phase I, comprising 50 MW, at an estimated cost of ₹392 crore, on April 13, 2026. The project will be funded through a combination of debt and internal accruals. NCL Industries gets in-principle approval to pursue an Odisha cement plant.

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Separately, the company's board has granted in-principle approval to pursue a proposal to establish a cement manufacturing plant in Odisha. As part of the process, NCL Industries will approach the Odisha government for project land and pursue the necessary applications and approvals.

The company clarified that the proposal is at a preliminary stage. No land allotment or definitive agreement has been executed, and no binding commitment to acquire or lease land has been made as of the date of the disclosure.

Any further decision to proceed with the proposed cement plant will be subject to applicable approvals and the company's further evaluation and approvals.

Shares of NCL Industries Ltd ended at ₹170.40, down by ₹1.85, or 1.07%, on the BSE.

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