Madras Cements (MCL) plans to capture 7-8% of the market in West Bengal with its upcoming grinding mill at Kolaghat in Midnapore next year, reports Business Standard.
At present, installed capacity in the state is nearly 4 million ton per annum (mtpa), and the market size is pegged at 7mtpa.
The plant will have an initial capacity of 9.5 lakh ton per annum, and will be scaled up in the coming 3 years to 2mtpa.
The company plans an investment of Rs 1.05 billion in the first phase. Work will start by the end of this year and the scheduled commissioning date was August 2008.
The project was behind schedule by three months owing to prolonged monsoons.
Madras Cements, with a market share of more than 11.7% in southern states, intends to take up the current installed capacity of 5.99mtpa to 10.5mtpa by FY09.
Shares of the company declined Rs 142.3 , or 3.37% to trade at Rs 4082.6. The total volume of shares traded was 2,003 at the BSE.(1.02 pm ,Thursday ).
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