My Home Industries Limited is planning to increase its cement production capacity to 10 million tonnes over the next five years from the present 4.5 million tonnes.
“We will invest Rs 3,000-4,000 crore for setting up greenfield plants and also go for acquisitions to ramp up the capacity,” J Rameswar Rao, chairman and managing director, My Home Industries, told mediapersons here.
The company has a 50:50 joint venture with CRH Plc of Ireland. “We have sufficient reserves to take up proposed expansion works,” Rao said.
My Home is investing Rs 240 crore to set up a 60-Mw captive thermal power plant at its cement unit in Nalgonda. This will be the second power plant for the company, which already has an 18.5-Mw plant, at the facility. The new power plant will be ready by 2011.
This apart, the company has a 1.3 million tonne capacity slag-based cement unit in Visakhapatnam district. “We have invested about Rs 300 crore to set up the Vizag plant and plan to double its capacity with an investment of Rs 150 crore,” he said.
On the occasion, the company launched its premium cement brand ‘Maha Shakthi’ in here.
