Managing Director of Century Ply Sajjan Bhajanka said production capacity of Cement Manufacturing Company (CMC) would be raised from one million tonne to four million tonne per annum by March 2010.
He said that the total fund requirement for the expansion would be Rs 1,100 crore, out of which Rs 200 crore would be funded from internal accruals. The remaining Rs 650 crore would be raised as debt from banks and institutions.
Bhajanka said that the PE deal would be firmed up in a month's time.
Century Ply holds 70 per cent in CMC, which has clinker and grinding plants located in the North East.
Regarding Century Ply, he said that the company would expand plyboard manufacturing capacity for which it had undertaken the construction of a factory at Guwahati.
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During the FY'08, the consolidated turnover (including CMC) stood at Rs 1,001.45 crore and net profit at Rs 111.67 crore.
Bhajanka said that the consolidated turnover would touch Rs 1,400 crore during FY'09.
Century was also diversifying into the business of logistics by setting up container freight stations at the Kolkata Port Trust.
The company is aiming at a turnover of Rs 3,000 crore and a profit of Rs 400 crore by 2011-12.