Madras Cements expanding thermal capacity to 115 MW

CHENNAI: Madras Cements, the flagship company of the Chennai-based Ramco Group, is expanding its captive power capacity and expects to cater 100% of its internal requirements, as per a research report.

MSFL Research has said Madras Cements is currently working on setting up a 43 MW captive thermal power plant, which would take its total thermal capacity to 115 MW (from 72 MW now) by FY13.

“Upon completion of the on going expansions, Madras Cements will be able to cater 100% of its internal requirements by captive power with a mix of thermal and wind Power,” analyst Medha Tarke wrote in a research report after meeting with the management. The company also has wind power capacity of 159 MW.

The report further said the company is looking at optimum cost saving.

Tarke does not have a rating on the stock.