To cater to increasing cement demand in Gujarat and Madhya Pradesh, India Cements plans to expand its capacity in Rajasthan plants with the possible investment of around Rs 650-700 crore, the company Vice-Chairman and Managing Director N Srinivasan said.
The present capacity of the plant in Rajasthan is over one million tonne. The company has plans to add one more line with similar capacity. The expansion would help the company cater to the Gujarat and Madhya Pradesh markets. With a total capacity of 15.5 million tonne, the company has plants in Tamil Nadu, Andhra Pradesh and Rajasthan.
The company's net profit dropped to Rs 26.12 crore in the third quarter from Rs 56.31 crore in the corresponding quarter of the previous year.