India Cements Ltd Approves Capex of Rs.440 Crores for Capacity Expansion and Modernisation

India Cements Ltd has approved a capital expenditure of Rs.440 crores towards capacity expansion and modernisation. The existing capacity is 14.75 Million Tonnes, with a utilization rate of 60% to 75%. The proposed capacity addition is 2.80 Million Tonnes, which is to be added within approximately 2 years. The investment will be financed through a mix of debt and internal accrual. The rationale behind this decision is to have necessary capacity for upcoming business opportunities and improve the company's competitive positioning. Furthermore, the Board has also approved a capex of Rs.1,574 crores towards modernization.