Hyderabad, Nov. 20
NCL Industries has decided to increase its cement capacity by 8.25 lakh tonnes per annum with an investment of Rs 213 crore by setting up a 1,800 tonnes per day (tpd) Clinker Plant at its existing cement plant in Nalgonda district, Andhra Pradesh.
It will also set up a 2,500 tpd cement grinding plant at Kondapalli, near Vijayawada in the State. This also includes Railway siding. The project is expected to be completed within 18 months in view of availability of existing infrastructure.
These were some of the decisions approved by the NCL board, the company informed the Bombay Stock Exchange on Monday. The board has also recommended a final dividend of 5 per cent, subject to approval of shareholders for the financial year ended March 31, 2006, while approving the annual accounts for 2005-06.
The company has already paid 10 per cent interim dividend. The new shares issued on rights will be eligible for the final dividend if approved in the Annual General Meeting to be held on December 9.
NCL also plans to increase laminated boards capacity from 10,000 sq mts per month to 25,000 sq mts per month to meet the market demand available for the product.