Tamil Nadu-based cement manufacturer Ramco Cements is planning to invest around Rs 1,095 crore in various projects, including expansion of its satellite grinding unit capacity, said a senior management official. The company is expecting the cement demand to be growing in the near future.
Chief Executive Officer A V Dharmakrishnan said that the company was embarking upon increasing its capacity through satellite grinding plants and this would enable the company to increase its presence in Andhra Pradesh, Odisha and West Bengal. The plans are to increase the capacity to 7.1 mtpa from 4 mtpa.
The expansion will be taken up at Vizag, Kolaghat and with a new grinding unit in Odisha. These projects would be commissioned in a period of 18 months. On the outlook, he said the effects of demonetisation are now behind. The effects of the goods and services tax, increased spending by the Centre on infrastructure and affordable housing scheme are expected to propel the growth for the cement demand in the future.
Source: Business-Standard 