Coal news and updates

Ambuja Cements to invest Rs 802 crore in 2014

April 23: Ambuja Cements Limited, one of the major cement manufacturers in India, plans to invest Rs 802 crore in 2014 as compared to Rs 725 crore in 2013 on capacity expansion.

In its annual report, the company said, "The entire proposed expenditure would be financed by internal accruals."

The company, which currently has a production capacity of 27.95 million tons per annum (mtpa), is setting up three plants in Rajasthan, Odisha and Uttar Pradesh with a capacity of 1.5 million tons (mt) each.

"Environmental clearances for the projects were acquired but kept in abeyance for Marwar Mundwa (in Rajasthan) by the MoEF. Part of the mining land is already in possession and the rest is in an advanced stage of acquisition. Full-fledged construction work is expected to commence in the latter part of 2014," the company said.

Ambuja Cements is also adding grinding capacity at its Sankrail (West Bengal) unit and Rabriyawas unit in Rajasthan by 0.8 mt each. The Sankrail project is expected to be completed in 2016 and Rabriyawas, in the first half of 2014.

"In 2013, the company had taken up 13 new projects at different locations worth Rs 272 crore to optimise and enhance efficiency. These projects have a quick payback of half year to four years. Most of the projects are likely to be completed in the first half of 2014," it said.