Sagar Cement to invest Rs. 145 cr for expansion – Feedback

Sagar Cement Ltd will be investing about Rs. 145 crore in its expansion. The Hyderabad-based company is looking at around Rs. 100 crore capex this year and during next fiscal it could be aroundRs. 45 crore. “This will include approximately Rs. 66 crore being incurred for acquisition and other associated costs of a 1,81,500 tonne grinding unit owned by Toshali Cements Private Ltd which is located in Bayyavaram, Vizag district of Andhra Pradesh,’’ Sreekanth Reddy, Executive Director, Sagar Cement told.

“This acquisition will bring down logistics cost and facilitate Sagar to introduce slag cement in parts of Andhra Pradesh and Odisha,’’ he said. Post acquisition, Sagar proposes to scale up capacity to 3,00,00 tonnes per annum with an additional capital expenditure. The funding for acquisition will be through internal accrual of Rs. 20-25 crore and the rest will be debt. Investments are also being made into a waste heat recovery project.

http://www.thehindubusinessline.com/todays-paper/tp-news/sagar-cement-to-invest-rs-145-cr-for-expansion/article9000205.ece

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