Binani Cement to start production from 2009
Binani Cement has initiated preliminary steps for exploitation of lignite mine in Rajasthan.
By PTI |
MUMBAI: Binani Cement Limited on Wednesday said it has initiated preliminary steps for exploitation of lignite mine recently allotted to it at Nimbri Chandavan in Rajasthan.
The production is likely to start in the mine in early 2009 and will help in reducing the cost of power generation at Binani Cements captive power plant, a release said here.
In order to optimise freight costs and to have increased penetration in the northern markets, the company is also in the process of installing a second split grinding mill at Neem Ka Thana in north Rajasthan.
This is scheduled to be completed by the last quarter of 2007, the company stated.
The additional investment is being financed from internal accruals. Consequent to this, the overall cement production capacity of the company will increase to six million tonne per annum, it said.
The present capacity of the plant is 2.25 MTPA with a 25 MW captive power plant.
The company has posted a net profit of Rs 50.67 crore in Q1FY08, up 34.83 per cent as compared to the corresponding period in the previous year.
Net sales was up 12.34 per cent at Rs 195.62 crore as against Rs 174.12 crore during the same period.
The production is likely to start in the mine in early 2009 and will help in reducing the cost of power generation at Binani Cements captive power plant, a release said here.
In order to optimise freight costs and to have increased penetration in the northern markets, the company is also in the process of installing a second split grinding mill at Neem Ka Thana in north Rajasthan.
This is scheduled to be completed by the last quarter of 2007, the company stated.
The additional investment is being financed from internal accruals. Consequent to this, the overall cement production capacity of the company will increase to six million tonne per annum, it said.
The present capacity of the plant is 2.25 MTPA with a 25 MW captive power plant.
ADVERTISEMENT
The company has posted a net profit of Rs 50.67 crore in Q1FY08, up 34.83 per cent as compared to the corresponding period in the previous year.
Net sales was up 12.34 per cent at Rs 195.62 crore as against Rs 174.12 crore during the same period.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
