Ramco Cements is reportedly planning a new cement plant in Andhra Pradesh at an initial investment of Rs.1500 crore. The total investment by the end of the project is expected to be Rs.3000 crore. The group is said to have entered talks with the AP state government, which has allegedly welcomed the proposal. There has also been talk of setting up a new rail line to aid with distribution of the cement, which requires clearance from the central government.
In July, Ramco reported a slight decline in net sales/income in its results for the April – June quarter. In general, results for this quarter have been mixed among Indian cement companies, as sluggish demand and higher costs took their toll.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/29082014/ramco-cements-to-set-up-new-plant-in-andhra-pradesh-380/