Despite ongoing uncertainty over demand and fears of surplus capacity depressing prices, ACC Ltd., India's foremost manufacturer of cement, has decided to invest Rs 1,600 crore in 2009 and another Rs 1,300 crore next year.
The company officials unveiled the investment plans at the 73rd annual general meeting in Mumbai on Wednesday. ACC stated in a communiqué that it will enhance capacity at Bargarh plant to 2.3 million tonnes (mt) with a 30 MW captive power plant, which is expected to complete by mid-2009.
In addition, the company is also setting up two greenfield grinding plants in Karnataka which would go on steam by the end of the year.
Rajasthan-based Shree Cement Ltd has decided to invest Rs 1,200 crore in the current financial year to expand its production capacity, including setting up two greenfield plants and installing four captive power plants. 
According to the consolidated first quarter results posted by the cement bigwig ACC Ltd, the company's year-on-year net profit figures, for the quarter ended March 31, 2009, have gone up from Rs 324.3 crore a year before to Rs 399.34 crore.
While launching its new brand campaign, cement maker Jaypee Cement, a wholly owned arm of the Jaypee Group, has appointed master blaster Sachin Tendulkar as its brand ambassador.
