We have our sight on conserving monetary sources and lowering debt to an optimum stage, says P. R.Venketrama Raja, CMD, The Ramco Cements Ltd.
| Photo Credit: BIJOY GHOSH
India’s cement manufacturing for the present monetary yr is anticipated to grow by 6-8% pushed by infrastructure-led funding and mass residential initiatives, stated Ramco Cements Ltd. (RCL) managing director P. R. Venketrama Raja.
“Going forward, there is enough optimism for the industry,” he stated in the most recent annual report including manufacturing in FY23 was estimated to have grown by 7-8% to 380-390 million tonnes.
Regarding the corporate’s enlargement plans, he stated RCL was strategically investing in new capacities throughout South and East markets in addition to specializing in optimising logistics motion. These steps would guarantee efficient market attain at sustainable price.
During the yr, the cement main can be rising the grinding capability by 0.9 million tonnes at Odisha at an outlay of ₹130 crore and waste warmth restoration system capability from 40 MW to 43 MW to scale back power consumption
About ₹620 crore has been put aside for buying land for Bommanalli venture in Karnataka, stated CEO AV Dharmakrishnan.
“We have our sight on conserving financial resources and reducing debt to an optimal level. Long-term borrowings have increased, to meet the capital expenditure for ongoing capacity expansion projects. Besides, the company also plan to monetise non-core assets over the next two years,” he stated.
