ACC looks at finance options

ACC looks at finance options
Published: 19 January 2004

Associated Cement Companies, India,  is planning to raise about Rs300 crore to part finance its capital expenditure programme, which has been revised upwards following the acquisition of Idcol Cements in Orissa. The company has spent about Rs182 crore to acquire 86.8 per cent stake in Idcol Cements, which has a capacity of one million tonnes. ACC also plans to invest about Rs250 crore at its Chaibasa unit in Jharkhand, which is being converted into a dry process facility with increased capacity of 1.5Mt. It also plans to enhance capacity at its Tikaria unit from 1.3Mt to 2Mt. It also intends to enhance Idcol's clinkering capacity at Bargarh by 35 per cent and set up a captive power plant.