India: Ramco given go ahead for power plant upgrade

Ramco Cements has received a boost to its share price after it was given environmental clearance to expand the power plant at one of its facilities.

The company’s shares rose by 0.7 per cent after it announced that it had been allowed to proceed with its plans to expand the captive power plant at Alathiyur in Tamil Nadu.

This project will raise generation capacity to 42MW at a cost of INR214m (US$3.2m). Fuel for the coal-fired plant will be sourced from Indonesia.