The Hindu Business Line : Rain Ind financial closure

Rain Industries Ltd has announced that it has achieved financial closure for its Rs 334 crore, 1.5 million tonnes per annum brownfield expansion of the cement plant in Kurnool district of Andhra Pradesh. The fully owned subsidiary of Rain Commodities Ltd (RCL) has informed the BSE that the project would be funded by term loans from banks and financial institutions to the tune of Rs 240 crore and the balance Rs 94 crore from internal accruals. The expansion is expected to be completed by October and post-expansion, the total cement production capacity of Rain Industries will increase to three mt per annum of ordinary portland cement.

More Stories on : New Projects | Cement | Andhra Pradesh

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