The expansion plans of ACC Ltd, India’s largest cement maker, are on track but costs on some of the projects have been marginally higher than expected, a top official said on Thursday. "There have been some marginal cost overruns," Managing Director Sumit Banerjee told reporters at an industry conference.
"Part of this increase has come from cement price increases."
He did not specifically quantify the rise in costs, although he said planned capital expenditure in 2009 would be 16 billion rupees and in 2010 it would be 14 billion rupees.
The company had earlier said it would spend 29 billion rupees in 2009 and 2010 on its expansion.