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JK Lakshmi Cement to invest in expansion plan

Monday, 03 Jun 2013
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JK Lakshmi Cement, part of the HS Singhania Group, is planning to invest Rs 2,100 crore in an expansion plan, to be largely funded by debt.


Of the total amount, the company will utilise Rs 1,550 crore to set up a 2.7 million tpa greenfield project at Durg in Chhattisgarh. The project will comprise a captive limestone mine and two grinding units. It will source Bhilai Steel Plant's slag. The company has so far invested Rs 800 crore in the project. Once the project is commissioned, the total installed cement capacity of the company will reach 8.5 million tpa from the existing 5.3 million tpa. 


Rs 200 crore towards loan repayment in FY13 has helped restrict the firm's debt equity ratio to 1.09:1, as against 0.96:1 in FY12


As part of its expansion programme, the company is planning to set up a grinding unit in the Asansol-Durgapur region of West Bengal. JK Lakshmi is also setting up another unit in Gujarat, at Surat, with an estimated investment of Rs 150 crore.

 

Meanwhile, it is planning to operationalise a grinding unit in Orissa by FY 2015. In addition to this, the company is also in the process of taking over and rehabilitating a sick unit of Udaipur Cement with an estimated cost of Rs 550 crore.

 


 

 
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