My Home plans to raise cement output to 10Mt
Aimed at gearing up to next boom in infrastructure and realty sectors in the country, the Hyderabad-based My Home Industries Ltd plans to more than double its capacity to 10Mt in five years, said its chairman and managing director, J. Rameswar Rao.
My Home, one of the largest cement manufacturers in Andhra Pradesh, now has a capacity of 4.7-m tons. Rao said the company plans to initially double the capacity of its slag cement facility to 3-m tons at Visakhapatnam to cater to markets in the Eastern India with high demand for slag cement.
The company is also considering a plan to set up at least a 2-m ton Greenfield plant in the borders of Andhra Pradesh and Karnataka to cater to down South markets, involving an investment of some Rs1,000 crore.
Admitting that the South Indian cement market now has excess capacities, leading to pressure on margins, he said, “We are preparing for a long-term game and gearing up with capacities to meeting future demand.”
In a bid to spread its geographic presence both for manufacturing and marketing, My Home is also considering a plan to enter the Central Indian market with a manufacturing facility of 2Mt at Rs1,000 crore investment, said Rao. Though the preference would be on setting up Greenfield projects, the company is not averse to acquisitions with good opportunity, he said.
Published under Cement News
