ACC projects positive outlook, to expand capacity at Lakheri

ACC Ltd has announced the following Outlook: Overall, the cement industry recorded a growth rate of about 7.1% during the current half year ended June-07 as compared to the corresponding previous period. The GDP growth of the country continues to be strong. As the country needs more investment in housing and infrastructure sector, cement industry needs to gear up to service the growing needs. The Company expect that the industry will receive adequate support from all stakeholders and statutory authorities in meeting this challenge.

The project for expansion of capacity at Lakheri by 0.90 MT to 1.50 MT alongwith new 25 MW Captive Power Plant and augmentation of grinding capacity at Kymore has gone into commercial production during the current quarter. Projects for augmentation of grinding capacities at Sindri and Wadi are in progress. Expansion of capacity at Bargarh by 1.18 M. T. alongwith a 30 MW Captive Power Plant is moving as scheduled. The project for expansion of New Wadi plant by a further 3.0 M.T. has been taken up.

The Company has in July 2007 sold its entire shareholding in its wholly owned subsidiary ACC Nihon Castings Ltd at a consideration of Rs 30 crore. The transaction has no significant impact on the results of the Company.

Source : Equity Bulls

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