Anjani Portland Cement to set up new plant in Karnataka
Anjani Portland Cement Ltd is investing Rs 350 crore on a cement plant in Karnataka through a wholly owned subsidiary, Anjani Cement Karnataka Ltd. The proposed plant would have an annual capacity of one million tonne and is expected to go on stream by end of 2012. The Hyderabad-based company will mobilise the required funds from internal accruals and debt. After commissioning of the company, their total cement production capacity will go up to 2.2 mtpa from the existing 1.2 mtpa. With this the company will gain better access to markets in Maharashtra and Goa. The company operates two plants in Nalgonda district of Andhra Pradesh.
"The work on our subsidiary, Anjani Cement Karnataka Ltd, has already begun near Bijapur in Karnataka. We have recently started selling our cement in Kerala. With this, Anjani would be catering to almost all the southern markets. The next focus is on Maharashtra, a major market which cannot be ignored," said
KV Vishnu Raju, Chairman and Managing Director, Anjani Portland Cement Ltd.
On the industry scenario, Raju said there was some surplus in the market due to addition of new capacities in south India.
Anjani Portland Cement Limited
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