India: Madras Cement to increase capacity
Madras Cements Ltd is planning to increase capacity of its Ariyalur plant in Tamil Nadu. The company has also proposed to set up a 65MW coal-based power plant for captive purpose.
AV Dharmakrishnan, executive director – finance, Madras Cements, said the capacity at Ariyalur would be increased to 4.5Mt from 2Mt by April 2011. “The total investment in the expansion and power plant will be around INR800 crore,” he said. The project would be funded through debt and internal accruals.
Madras Cements, the flagship company of Ramco Group, currently enjoys a 22 per cent market share in Tamil Nadu. “Once the expansion is complete, we will look at neighbouring states of Karnataka and Kerala,” said Dharmakrishnan.
The company currently has an annual capacity of 10Mta. “We are also exporting in smaller quantity to Sri Lanka. If the price in the export market is good, we will scale it up,” added Dharmakrishnan.
Published under Cement News
