Grasim earmarks Rs6, 000crs, to expand VSF output also
01 May '06
2 min read
Aditya Birla Group's leading company, Grasim Industries Limited pronounced a capital expenditure arrangement of more than Rs6000 crore extended over a period of two years in the capability development to its cement and textile businesses.
The development includes upgrading of the Viscose Staple Fibre (VSF) plant, a Greenfield cement plant at Kotputli in Rajasthan, capability development of Shambhupura (Rajasthan) plant and its subsidiary Ultratech Cement.
The company also announced a growth of 14 per cent in its net profit at Rs263 crores for the quarter ending on 31 March 2006 as against earlier years Rs229.52 crores with continued growth in cement business and a spin in the textile operations.
They also declared a dividend of 200 per cent with an outgo of Rs209 crores.
B B Rathi Company Director said, that a total capital of Rs627 crore has been planned for development and upgrading of the VSF plants.
"It will increase VSF capacity gradually to 306,950 tons per annum from current level of 257,325 tons," he told reporters here.
Rathi added that Grasim has condensed its plans to develop its cement capacity by 8 million tons per annum by setting up an additional plant at Kotputli in Rajasthan and increasing the capacity at Shambhupura.
Both plants will add 4 MTPA capacities each, he said.
marketing@alchempro.com
