Basant Kumar Birla has intended has made up his mind to invest Rs 1200 crore across several of his group companies, including Century Textiles & Industries. The 85-year-old patriarch is confident that the future business plans will be implemented by the team of professionals managing the companies.
The group recently announced its decision to expand the paper manufacturing capacity and denim capacity of Century Textiles & Industries for a total investment of Rs 550 crore. Group company Kesoram Industries also committed a sum of Rs 425 crore. The funds will be partly used to enhance the capacity of the Vasavadatta cement unit, as well as set up a 7.5 mw captive power plant.
Elaborating on Kesoram Industries’ proposed expansion plan, Mr Birla said the company hopes to complete the same some time next year. “In the long run, the company will focus primarily on its cement and tyre business.” The Birlas also plan to enhance their tyre capacity, but only after completing the ongoing expansion of the cement capacity.