Kesoram Ind to invest Rs 425 cr

KOLKATA: Kesoram Industries Limited, a B K Birla group company, would invest around Rs 425 crore for upgrading cement production and for setting up a thermal power plant, a company official said.

Director of Kesoram Industries S K Parik told PTI that the company was in the process of setting up a 1.65 million tonnes per annum capacity cement plant at Karnataka. He said a 17-MW thermal power plant would also come up in the same region.

Parik said the total investment would be Rs 425 crore, out of which Rs 150 crore would come from internal accruals, the balance to be funded by debt.

A diversified company, Kesoram has two cement manufacturing plants, one each in Karnataka and Andhra Pradesh, with a combined capacity of 31 million tonnes per annum.

The company caters to Karnataka, Maharashtra, and Andhra Pradesh, Parik said adding that market shares in these three regions were comfortable.