The Associated Cement Companies (ACC) has targeted annual cost savings of over Rs 100 crore by setting up three captive power plants. The plants are to be set up at Tikaria in Uttar Pradesh, Chanda in Maharashtra and Madukarrai in Tamil Nadu. Tarun Das, chairman, ACC, said, “Our cost would be significantly reduced at the rate of Rs 220-250 a tonne owing to the captive power plants.” The total investment for setting up these three units is estimated at Rs 187 crore, he added. The company announced a capital expenditure outlay of Rs 500 crore for the current fiscal. The capex includes an investment of around Rs 250 crore for its ongoing expansion at its Chaibasa unit in Jharkhand, along with modernization and debottlenecking expenditures. Published under Cement News