Lanco to invest Rs 125 cr in cement plant
The Andhra Pradesh-based Lanco Industries is going to invest Rs 125 crore in a cement plant project. The company surged nearly 9 per cent intraday on November 16.
In a release sent to exchanges, Lanco said the board of directors have approved the project of mini cement plant of 3,00,000 tonne per annum with rotary kiln at an estimated capital outlay of Rs 125 crore in place of existing Vertical Shaft Kiln.
Due to better demand, Lanco Industries' production and sale of cement during Financial Year 2011-12 has seen a substantial rise, by about 47 per cent, the company said.