Business Update15 Mar 2024, 11:14 pm
KCP Ltd. Clarifies Expansion Plans, New Cement Plant in Andhra Pradesh
AI Summary
KCP Ltd., an 80-year-old diversified business group based in Chennai with interests in cement, heavy engineering, sugar, power and hospitality, has clarified its expansion plans. The company is considering setting up a new greenfield cement project in Andhra Pradesh, which, once fully functional, would double the cement capacity of the group. The group's chairperson and managing director, V.L. Indira Dutt, revealed that the expansion plans are in the preliminary stages and that further updates will be provided to the stock exchanges at an appropriate time.
Key Highlights
- KCP Ltd. clarifies expansion plans for a new greenfield cement project
- The proposed new plant will double the cement capacity of the group
- Preliminary expansion plans under evaluation, updates to be shared with stock exchanges
- Company's cement business has a rich history, currently operates plants in Andhra Pradesh with a combined capacity of 4.3 million tonnes
- Chairperson Indira Dutt expresses optimism about the new project and the group's long-term prospects