Economy & Market
Ramco Cements to set up new plant in Andhra Pradesh
Ramco Cements is reportedly planning a new cement plant in Andhra Pradesh, with an initial investment of Rs 1500 crore. The group is said to have entered talks with the AP state government, which has allegedly welcomed the proposal. There has also been talk of setting up a new rail line to aid with distribution of the cement, which requires clearance from the central government. The total investment by the end of the project is expected to be Rs 3000 crore. Ramco has reported slight decline in net sales/income in its results for the April-June quarter.