J K Lakshmi Cement today said it would invest Rs 1,800 crore over the next three-four years to double its cement production capacity to 10 million tonnes.
"At present, our installed cement production capacity stands at five million tonnes, which we would expand to 10 million tonnes in the next three-four years," J K Lakshmi Cement Managing Director Vinita Singhania told reporters here.
She was speaking on the sidelines of 49th annual meet of Cement Manufacturers' Association (CMA).
Singhania, who is also the president of CMA, said the company is setting up a 2.7 million tonnes greenfield cement plant in Chhattisgarh at an investment of Rs 1,200 crore.
The Chhattisgarh cement plant will be operational by October 2012 and this would take the total capacity to nearly eight million tonnes, she added.
J K Lakshmi currently has a cement plant in Rajasthan and a grinding unit near Ahmedabad. The company sells cement in northern and western region of the country.
The company will invest Rs 500-600 crore on setting up a grinding unit in Haryana and capacity addition through brownfield route, company's whole-time director Shailendra Chouksey said.
On the source of funding for the planned investments, Chouksey said it would be through internal accruals and debts.
In May this year, J K Lakshmi Cement had said that it is eyeing an acquisition either in India or abroad to expand its installed capacity.
The company reported a 78.58 per cent decline in its net profit at Rs 16.81 crore for the quarter ended June 30. The net sales during the first quarter of this fiscal also fell by about eight per cent to Rs 323 crore from Rs 351 crore in the year-ago period.