Basant Kumar Birla, chairman, B K Birla Group, announced an ambitious
investment plan of more than Rs 1,200 crore in the next two years for
cement and tyre manufacturing units of Kesoram Industries at
the annual general meeting of the company today.
The expansion plan will involve an investment of around Rs 650 crore in a
greenfield car tyre project near Haridwar in Uttarakhand with a production capacity of 250 million tonne.
The company plans to augment cement production by 5 million tonne by
adding another unit at the Vasvadatta Cement unit. The investment in the
project would be close to Rs 500 crore.
Of the Rs 1,200 crore lined up for expansion, nearly Rs 250 crore will be
raised through internal accruals, and the rest will be funded through debt
from financial institutions.
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