The company proposes to fund the project with a term loan of INR80 crore while the remaining amount is expected to arrange through internal accruals.
The company also proposes to come out with a rights issue or preferential allotment of equity shares in near future. Cement demand in the eastern zone during the quarter ended September surged 17 per cent, the highest zonewise growth in the country, mainly from rural sector as government’s fiscal stimulus multiplied investment on housing projects.
