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Ramco Cements plans Rs 1,650 cr capex for FY24

Friday, 24 Nov 2023
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Ramco Cements has plannned a capital expenditure (capex) of Rs 1,650 crore for the current financial year (FY), which will include capacity expansion projects and purchase of land in Andhra Pradesh and Karnataka. It has incurred Rs 1,225 crore capex in the first half of the ongoing FY and has earmarked another Rs 350 crore in the next two quarters.

The capacity expansion will be for Kolimigundla thermal power plant, dry mix products in Andhra Pradesh and Odisha, along with a grinding plant in Odisha. The Kolimigundla 18 MW TPP,  and dry mix products will be commissioned during December 2023. The grinding plant expansion from 0.9 million tpa (MTPA) to 1.8 MTPA is expected to be achieved by January, 2024.

A capex to the tune of Rs 200 crore to Rs 250 crore, along with normal maintenance of Rs 200 crore, has been estimated for FY25, the budget may go up with the approval for new projects, such as the waste heat recovery system in Tamil Nadu plant. 

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