ACC puts ready-mix plans on hold
ACC of India has decided to put on hold plans to expand its ready-mix concrete (ready-mix) business due to a slowdown in construction activities across the country.
When contacted, Hans Fuchs, managing director of ACC Concrete, said: “With the global financial crisis taking its toll on the domestic construction market, especially in the real estate sector, the extensive expansion plans of ready-mix have been put on hold for 2009.”
Though the exact amount of money that the company was supposed to invest in this business till 2009 could not be ascertained, ACC had earlier announced that it would invest Rs 600 crore to set up 150 ready-mix plants by 2011.
The company will now focus on the consolidation of existing businesses, while continuing to boost volumes from the current base of 38 batching plants, Mr Fuchs added. Published under Cement News
