Binani Cement has revealed that the company is proposing to raise USD90million through International debt by March 2009 to increase its manufacturing capacities to twofold in China and Dubai by fiscal 2010.

The source close to the company said that Binani Cement is looking at building grinding units in Africa.

According to the reports, the proposed grinding unit would have an annual capacity of 1 million tonnes and would entail an investment of approximately USD80-85 million.

The reports also revealed that company will soon build a greenfield unit having an annual capacity of 2.5 million tonnes in Gujarat.

Stock of Binani Cement, on Friday (Sep 26), plunged 2.06 per cent, closed at Rs 45 on National Stock Exchange (NSE).