ACC to invest Rs 1,400 crore for expansion next year

ACC to invest Rs 1,400 crore for expansion next yearACC, India's largest cement maker, has informed that it has decided to make an investment of Rs 1,400 crore next year.

The sources said that through the proposed investment, the company will expand its production capacity to 30 million tonnes by fiscal 2010-end and would raise Rs 300 crore to retire some of its long-term debt.

The authorities of ACC stated in a communiqué that the company has planned capital expenditure of Rs 1,600 crore in fiscal 2009.

The sources informed that the funding of the proposed investments would be done through internal accruals.

As per media reports, the company is having a production capacity of 22.63 million tonnes per annum at the end of fiscal 2008. It generated nearly 21 million tonnes cement in 2008.