Coal news and updates

Business group My Home Industries will be commissioning its 1.5-million tonne cement plant in Tuticorin, Tamil Nadu, in January 2017.

 

“This will increase our cement production capacity from existing 8.4 million tonnes to 10 million tonnes,’’ its Executive Director S Sambasiva Rao told newspersons during re-branding of its flagship brand Maha Cement here on Monday. The port-based Tuticorin plant will see an investment of ₹250 crore. Once it starts production, the company’s access to both the southern and eastern markets will considerably increase, he said.

 

At present, it supplies cement to 12 States. “As we are consolidating our presence in the south and east, we will look more to northern markets in the future,’’ he said.

 

My Home also has plans to set up a couple of plants including a greenfield unit in Guntur, Andhra Pradesh, after achieving reasonable capacity utilisation in its existing plants. As against industry average of 50 per cent, its capacity utilisation is in the range of 65-70 per cent as of now. The privately held ₹5,000 crore group has two integrated cement plants — at Mellacheruvu in Nalgonda district of Telangana and Yanakandla village in Kurnool district. In addition, it operates a grinding unit at Mulakalapalli village in Visakhapatnam district of Andhra Pradesh. Out of total ₹5,000 crore turnover of the group, cements contributes ₹3,000 crore.

Source: The Hindu Business Line