Sanghi industries to raise money
Cement maker Sanghi Industries Ltd is now looking at raising Rs 1,200 crore to fund its proposed expansion.
Sanghi, one of the major cement players in western India, has recently increased production capacity of its Kutch cement plant by 1.2 million tonnes per annum (MTPA) to 4.1 MTPA.
“Around Rs 1,200 crore investment has been envisaged for the expansion, which is expected to be over in next three to four years,” said Alok Sanghi, director, Sanghi Industries Ltd. The company plans to raise funds through a mix of internal accruals, debt and equity (if required). “However, the ratio of the mix is yet to be finalized,” he said.