Madras Cements has received an approval to form a subsidiary company and transfer windmills of an aggregate capacity of 23.23 MW to the proposed subsidiary company. The board of director at its meeting held on July 29, 2013 has approved for the same.
The company’s total wind farm capacity is 159.19 MW. After transfer of the windmills of capacity 23.23 MW to the proposed subsidiary, the balance windmills of capacity 135.96 MW will continue to remain with the company.
Madras Cements was established in 1957, is part of Ramco Group, a well known business group of South India. It is based at Chennai. The company is the fifth largest cement producer in the country. Ramco Supergrade is the most popular cement brand in South India.