Hyderabad, April 26
Hyderabad Industries Ltd, the fibre cement sheets major, has decided to embark upon a Rs 100-crore expansion programme involving setting up of two fibre cement sheet units and one autoclaved aerated concrete blocks manufacturing facility.
The company board met on Wednesday and took a decision to this effect. Hyderabad Industries has informed the stock exchanges that the board has decided to set up two plants to manufacture fibre cement sheets and accessories at an estimated cost of Rs 30 crore each. It has also cleared a proposal to set up a plant to manufacture autoclaved aerated concrete blocks at an investment of Rs 40 crore.
The company board has also recommended a dividend of 50 per cent (Rs 5 per equity share of Rs 10 each) for the fiscal ended March 2006.