Sagar Cements plans to raise funds for expansion
Sagar Cements has said that the firm plans to raise funds to finance expansion of its grinding unit as well as setting up of a power plant.
"The meeting of board of directors of the company is being convened to be held on October 19, 2016 to consider proposals for setting up of a coal-based power plant at the company's unit in Nalgonda (Telangana) and for expanding the capacity of the grinding unit in Vizag (Andhra Pradesh) and to raise funds for the purpose," Sagar Cements said in a regulatory filing.
The firm has cement manufacturing capacity of 2.35 million tonnes per annum (MTPA), while it has a clinker capacity of 2 MTPA.
On a consolidated basis, the firm clocked a production of 1.08 MT during the April-September period this fiscal, while its sales stood at 1.08 MT. Its major markets include Telangana, Andhra Pradesh, Odisha, Maharashtra, Karnataka and Tamil Nadu.