Anjani Portland Cement Ltd will invest approximately INR300 crore in a greenfield cement plant in Bijapur district of Karnataka. It will have a capacity of around a 1Mta.
The Hyderabad-based company has obtaining mining licence for limestone. It will be the first cement unit in Bijapur.
The unit will take Anjani Portland’s capacity to over 2Mt from the present 1.16Mta, said KV Vishnu Raju, Chairman and Managing Director.
“We plan to raise the funds through a combination of debt, equity and internal accruals. Work is expected to begin in second half of 2010 and production in 2014,” Mr Raju told Business Line.
Anjani Portland, which had a turnover of INR254 crore in fiscal 2011, hopes to meet the demands of the markets in Karnataka, Maharashtra and Goa from the upcoming unit. At present, it reaches all the southern States and Maharastra and Goa. “This will improve our market share,” he said.