Madras Cements plans Rs 1,052cr expansion

Madras Cements is planning to invest Rs 1,052 crore to establish a greenfield cement plant near Ariyalur, Tamil Nadu and an additional clinkering facility at its existing factory at Jayanthi Puram, Andhra Pradesh.

Both the projects are slated to be commissioned in 2007-08, according to a release issued by the company to the BSE today.

The board of directors, at its meeting held on May 27, cleared the proposal for the greenfield plant with a capacity of 2 million tonne per annum at a cost of about Rs 613 crore.