New Delhi, July 31 - Infrastructure major Jaiprakash Associates Ltd Friday signed an agreement with Assam Mineral Development Corp (AMDC) for setting up a cement plant in the northeastern state.

'The total cost for setting up this plant is estimated to be Rs.1,050 crore,' the company said in statement.

A new joint venture company will be set up to execute the project in which Jaiprakash Associates will have 82 percent equity and the rest will be held by AMDC.

The joint venture company will set up the cement project at Umrangshu in North Cachar Hills district of Assam.

The project during the construction phase will offer employment to 3,000 people and after the completion direct employment to 1,500 people.

It will also generate over 10,000 indirect job opportunities.