India Cements to consolidate its assets
With this merger the total capacity of India Cements will reach 15.8 million tonnes. India Cements has seven integrated cement plants in Tamil Nadu and Andhra Pradesh, one in Rajasthan (through its subsidiary, Trinetra Cement) and two grinding units, one each in Tamil Nadu and Maharashtra.
The company will also be selling large portions of land near their plants in Tamil Nadu and Andhra Pradesh over next 12 months, with an estimated value of Rs 1,000 crore. ´We have identified lands but the valuation is poor and buyers are not available,´said Srinivasan. The company is now looking at developing real estate projects, through its real estate division.