Century plans mega cement expansion

Century Textiles and Industries has informed the Bombay Stock Exchange that it is embarking on a Rs 790-crore expansion that would raise the cement capacity at its plant in Chandrapur district of Maharashtra by 2 million tonne.

The plant is operated by the company's Manikgarh cement division at Gadchandur. The expansion will also include a 35-mw captive thermal power plant.

The decision was taken at the meeting of the company's board of directors today. The board also approved the earlier proposal to set up a new textile mill as a greenfield project under a separate division of the company.

The mill's manufacturing capacity will be 30 million metres of fabric a year and the plantwill come up at Jhagadia in Bharuch district of Gujarat. The unit will also have a 30-mw captive thermal power plant. The capital expenditure is pegged at Rs 600 crore.

Another proposal cleared at the board meeting was to set up a new cement grinding unit with a capacity of 1.5 million tonne a year, under the name 'Sonar Bangla Cement' as a division of the company, at Sagardighi in Murshidabad district of West Bengal. The capital expenditure is estimated at Rs 175 crore.