Economy & Market
Sagar Cement to invest Rs 145 cr for expansion
Sagar Cement Ltd will be investing about Rs 145 crore in its expansion. The Hyderabad-based company is looking at a Rs 100 crore capex this year and during the next fiscal it could be around Rs 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 the Business Line newspaper.
"This acquisition will bring down logistics cost and facilitate Sagar to introduce slag cement in parts of Andhra Pradesh and Odisha,'' he said.