My Home Industries Ltd., a south Indian cement major, is investing INR400 crore (US$88m) to augment capacity of its state-of-the-art new plant at Vizag, Andhra Pradesh, and for acquiring new units.
“We are embarking on an ambitious target of 10Mta capacity in three years from the present 4.7Mta. We are considering various options, including acquisitions” says Group Chairman and Managing Director Rameswar Rao Jupally.
My Home Industries is the joint venture between My Home Group and the Irish-based CRH, and sells cement under ‘Maha Gold’ and ‘Maha Shakthi’ brands.
My Home at present has four manufacturing units in Andhra Pradesh — three at Mellacheruvu and one at Vizag. The Vizag plant has an installed capacity of 1.5Mta which will be augmented by a further 1Mta, while the capacity of Mellacheruvu units will be expanded to 4Mta.
RP Singh, senior vice-president, says the company is poised for rapid expansion in the eastern markets. It has also taken up a project to set up a 60MW captive power plant at Mellacheruvu (near Hyderabad) and two rail links for transporting raw materials and cement.