Kesoram plans to raise cement capacity

Kesoram plans to raise cement capacity
Published: 01 July 2004

Kesoram Industries, the BK Birla group flagship, plans to invest Rs 350 crore to raise the capacity of its cement plant.  ’We want to increase capacity in cement . We are examining the issue and a decision is expected in the next four to six months,’ chairman B. K. Birla said to the local Telegraph newspaper. The cement capacity will go up 35 per cent, from 3Mt to 4Mt, at a cost of Rs 350 crore, Birla said. The extent of expansion at the company¹s tyre plant, based in Orissa, is not known at this stage. ’Funds for expansion will come from internal accruals and loans. We will not go back to the market,’ Birla said. Voicing his preference for brownfield expansion over buyouts, he said: ’I don¹t believe in acquisitions. If I have the money, I will expand existing plants.’