Live Webinar on "How to Invest successfully to reach goals without losing sleep" Sign up for Live Webinar

ACC Puts off Rs 600 Crore expansion of Ready Mix Concrete plants in India

22 Dec 2008

India’s biggest maker of cement has indefinitely put on hold a 6 billion rupee ($127 million) expansion of its ready-mix concrete business, according to Hans Fuchs, chief executive officer of the concrete unit as demand for ready-mix concrete has declined. The company planned to add 200 concrete-mixing plants across India by 2012.

 

The demand for RMC, which is primarily used by developers in residential projects, has been constantly falling owing to a decline in sales in the property market and non-availability of lending for the realty players. The company will increase the number of it’s plants to 40 this month from the current 32 and will stop expanding then. However, ACC is going ahead with its planned expansion programme of increasing the cement capacity to 30 million tonnes by 2010 from 23.5 million tonnes with addition of three plants in the country.

 

crackcrack

ACC Share Price

2040.65 16.55 (0.82%) Jun 14, 18:01
1 Year Price Chart
Peers
Company Name CMP
Ultratech Cement 6678.40
ACC 2040.65
Shree Cement 28309.50
Ambuja Cement 340.25
Dalmia Bharat 1801.35
View more..
Sensex vs ACC
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback