Madras Cements is planning to invest Rs 360 crore for its business expansion programme.

The company will utilise the funds to set up a new grinding unit in Andhra Pradesh. The new plant will be established at Visakhapatnam and is expected to be commissioned by FY15. The required clinker for this plant will be transported from its Jayanthipuram plant. The product from the plant will be marketed in coastal Andhra Pradesh, particularly in Visakhapatnam, Orissa, and Chhattisgarh.

In the power Generation sector it is proposed to enhance the capacity of the thermal power plants at Alathiyur, Jayanthipuram and Ariyalur by adding one turbine each with 6 MW capacity, at an investment of Rs 55 crore.

Besides, the company is planning to change its name from Madras Cements Limited to 'The Ramco Cements'. Ramco is the brand name under which the company's products are sold.

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