New Delhi: Country's cement industry will maintain annual growth at 10 per cent in the coming years as more money is poured into infrastructure projects like roads, bridges, ports and houses, an official said on Monday.

"This growth is going to sustain for two-three years," O P Puranmalka, executive president for cement at Aditya Birla Group, told reporters.

"If special economic zone projects come, the growth can be 10 per cent plus also," he said. The group, which includes Grasim Industries Ltd and UltraTech Cement Ltd, is India's second-biggest cement producer. It plans to boost capacity to 46 million tonnes by 2008/09 from 31 million tonnes, he said.

Cement companies are running plants at full capacity to feed a fast expanding economy and producers have pledged to add another 100 million tonnes of capacity by 2009/10 to the existing 177 million tonnes a year.

"If all this growth comes together, then may be one year there is a problem. But ultimately this capacity is required by India," Puranmalka said, when asked about the outlook for prices after the expansion.

Article From : The Economic Times: October 23, 2007