India: My Home Industries to commission INR2.5bn plant

My Home Industries has announced that it will commission its 1.5Mta plant in Tuticorin, Tamil Nadu, in January 2017. The Tuticorin plant will represent a INR2.5bn (US$37.5m) investment and considerably increase the company’s access to both southern and eastern markets.

Executive Director of the company, S Sambasiva Rao, told reporters that the new plant “will increase our cement production capacity from existing 8.4Mta to 10Mta.”

The company also has plans to set up a greenfield plant in Guntur, Andhra Pradesh, after achieving reasonable capacity utilisation at its existing plants. Its capacity utilisation rate stands at an average of 65-70 per cent.

My Home Industries currently has two integrated plants in Mellacheruvu, Nalgonda district, and Yanakandla, Kurnool district, as well as a grinding unit in Mulakapallu, Visakhapatnam. Its plants supply cement to 12 states. Of the group’s total INR50bn turnover, cement contributes INR30bn.