Ramco Cements targets 20 million tonnes capacity by 2020
The company has invested Rs 3500 crore in the capacity expansion of existing plants and setting up new ones
The Tamil Nadu-based Ramco Cements is hoping to become the top cement company in South India by increasing its capacity to 20 million tonnes in 2020 from the present 12.5 million tonnes.
The company has invested Rs 3500 crore in the capacity expansion of existing plants and setting up new ones. ``Our new plant in Odisha will be commissioned in October and another in Kurnool by March 2021,’’ said PR Venketrama Raja, chairman and MD of the company.
The company currently has strong presence in southern and eastern parts of the country with plants in Tamil Nadu, Andhra Pradesh, West Bengal and the proposed one in Odisha. ``We are expecting a 10% rise in our turnover from Rs 5000 crore in 2018-19,’’ said Raja.
AV Dharmakrishnan, CEO, said the company showed a 20% growth last year. ``Our capacity utilisation is at 90% which is higher than that of the industry,’’ he said.
All the southern states except Tamil Nadu has shown a good sales growth for the company, pointed out Balaji K Moorthy, president (marketing). ``The political situation in Tamil Nadu has perhaps contributed to lower performance. In Kerala our sales were hit for four months after the flood last year,’’ he said. The company with 20% share is the market leader in Kerala now.