The Hindu Business Line : Ramco Ind to set up cement unit in Kharagpur

RAMCO Industries Ltd plans to set up a 600-tonne-a-day cement clinker grinding unit at Kharagpur in West Bengal at a cost of about Rs 15 crore. The company hopes to commission the plant by June.

According to company officials, about 200 tonnes a day will be used for Ramco Industries' fibre cement sheet plant in Kharagpur, which was commissioned last year, and the balance sold in the market.

The company's board, which met on Friday, approved a proposal to set up a cotton spinning mill with an installed capacity of 14,400 spindles at Rajapalayam in Tamil Nadu. This will cost the company about Rs 36 crore, of which 80 per cent will come as loans and the balance from internal accruals. The company is eligible for assistance under the Technology Upgradation Fund for the textile industry. For the three months ended December 2004, Ramco Industries reported a net profit of Rs 4.98 crore on total income of Rs 44.70 crore compared with a net profit of Rs 4.90 crore on income of Rs 39.28 crore for the same period last year.

For the first nine months of the year, the company reported a net profit of Rs 22.03 crore on income of Rs 149.13 crore against a net profit of Rs 19.72 crore on income of Rs 125.63 crore for the corresponding period last year.

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