Penna Cement plans Rs 100 crore packaging unit
Penna Cement Industries (PCIL), the cement manufacturer with a strong presence in South and North India, has now entered the western region with the launch of its cement products in Maharashtra. The company is planning to set up a packaging unit at Panvel in Maharashtra with an investment of Rs 100 crores.
The company has set the sales turn over target of Rs 2,000 crores in the current FY 2010-11 and is eyeing Rs 2,200 crore turn over in the next FY 2011-12. "We are planning to set up a packaging unit for our cement products at Panvel in Maharashtra. We are investing around Rs 100 crore in this unit, which is expected to be operational in the next 12 months," said Sridhar Reddy, who was in Nashik for the launch of company's cement products.
With an aim to strengthen its sales network base in Maharashtra, PCIL has already opened sales depots at major locations across the state, including Mumbai, Pune, Nashik, Ahmednagar, Solapur, Sangli, Satara and Kolhapur. The company is also planning to enter Gujarat market within a year.
He added "We sold out 41 lakh tonnes of cements with a turnover of Rs 1,400 crore in FY 2009-10. In the current FY 2010-11, our cement sales are expected to reach 50 lakh tonnes with a turnover of Rs 2,000 crores. We have entered the western region with the launch of our cement products in Maharashtra. We are also entering Gujarat market, shortly. We have set the target of selling one lakh tonnes of cements in Maharashtra in FY 2011-12," he said.
The company has its manufacturing facilities at Talaricheruvu, Ganeshpahad, Boyareddypalli and Tandur in Andhra Pradesh.
Out of company's total business, around 85 per cent business comes from South India and the rest of the 15 per cent from North India.