Cement manufacturer Sanghi Industries Ltd today said it plans to invest up to Rs 1500 crore in the next 2-3 years to double its production capacity to 8.2 million metric tonnes per annum (MMTPA).
"The company is planning to invest approximately Rs 1,200 to Rs 1,500 crore over next two to three years to expand its capacity from 4.1 MMTPA to 8.2 MMTPA," Sanghi Industries said in a BSE filing.
Last week, Gujarat Chief Minister Anandiben Patel inaugurated Sanghi Industries Ltd's new grinding unit at its existing plant in Abdasa tehsil of Kutch district.
The new unit of 1.2 million tonnes per annum (MTPA) capacity will increase the company's cement production capacity to 4.1 MTPA from 2.9 MTPA at present.
The company invested around Rs 125 crore in this new facility.
Patel also laid foundation stone for a 15 Mega Watt (MW) Waste Heat Recovery System (WHRS), that will recycle waste heat generated in the cement plant and convert it into power.
Shares of Sanghi Industries were trading at Rs 61.75 apiece in the afternoon trade, up 4.84 per cent from their previous close on the BSE.
