At meeting held on 26 October 2016
Sagar Cements announced that the Board of Directors of the Company at its meeting held on 26 October 2016 approved the following -Further expansion of capacity of grinding unit at Bayyavaram, Andhra Pradesh, to take it to 15 lakh MTPA at project cost of approx. Rs 167 crore.
To set up a 15 MW coal based captive power unit at project cost of Rs 76 crore at the Company's plant in Mattampally, Telangana.
The Board has proposed to raise a sum of upto Rs 300 crore by way of preferential issue of 611986 equity shares to promoter and promoter group and to others, subject to approval of shareholders and other approvals.
The expansion project is expected to be completed by 31 December 2018.
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