ET reported that Birla Corporation is examining overseas acquisitions. The company is examining opportunities to buy out cement manufacturing companies in the emerging markets but nothing has been finalized as yet.

Disclosing this to media persons at the sidelines of the company’s annual general meeting, Mr Harsh Vardhan Lodha newly appointed chairman said that "The company also plans to invest INR 2,350 crore to enhance its annual cement manufacturing capacity to 11.5 million tonnes over the next four years."

Mr Lodha added that "Closer home we intend to invest some INR 1,150 crore for Brownfield expansion in the next two years and another INR 1,200 crore for setting up a three-million tonne Greenfield plant at Satna.”

Mr Lodha said that the company has initiated discussion with lending institutions to secure about INR 600 crore of debt for its expansion plans. Balance amount will come from internal accruals.

Currently, Birla Corporation has cement plants at Satna in Madhya Pradesh, Chanderia in Rajasthan, Durgapur in West Bengal and Rae Bareli in Uttar Pradesh. Its Brownfield expansion includes setting up a 1.2 million tonne plant along with power generation from waste heat recovery and 35 MW captive power plant at Chanderia.

Additionally, it will involve increasing the grinding capacity at Durgapur by 600000 tonnes along with installing of a 17.5 MW captive power plant, as well as replacing the cement ball mills at Satna and setting up a coal washery and 35 MW captive power plant.

Mr Lodha said that all this apart the company is also planning to set up a one-million-tonne cement plant in Umrangsu in North Cachar hills of Assam entailing an investment of INR 500 crore. He said that "We have been shortlisted by the Assam government. A memorandum of understanding for setting up the plant is yet to be signed with the Assam government.”

(Sourced from Economic Times)