According to local press reports, Birla HomeTech is planning to establish a new cement facility in Petnikota village of Kovelakunta mandal, located in India’s Kurnool district, a region that is set to play a major role in the Bangalore-Chennai industrial corridor.
During a recent meeting with Chief Minister N Chandrababu Naidu, company executives noted that, if constructed, the plant would provide up to 4000 new jobs. If plans for the new plant are realised, the state government would assist Birla HomeTech with the resources the company would require.
Furthermore, the Minister expressed an interest in setting up similar plants throughout Andhra Pradesh state, which would generate more employment opportunities and provide a new supply of cement for government infrastructure projects.
Birla Corp has announced a lower Q1 net profit of Rs 111.88 crores, as compared to Rs 118.28 crores in the previous corresponding quarter. The results have been attributed to reduced ex-works realisation in the cement division.