In line with its plans to become the top cement company in South India, The Tamil Nadu-based Ramco Cements Ltd., is set to increase its capacity to 20 million tonnes (MT) in 2020, from the present 12.5 MT.
The company has invested Rs 3,500 crore in brownfield and Greenfield capacity expansion. The company is set to commission its new plant in Odisha in October and another one in Kurnool by March 2021, said P R Venketrama Raja, chairman and MD of the company recently.
Ramco currently has strong presence in southern and eastern parts of the country with plants in Tami Nadu, Andhra Pradesh, West Bengal and the proposed one in Odisha. Raja, who was in Kochi for the launch of company’s new premium blended cement in Kerala, said that the company was expecting a 10 per cent rise in turnover from about Rs 5,000 crore in 2018-19."
The company has grown by about 20 per cent growth in 2019-19, on the back of 90 per cent capacity utilisation, which is higher than that of industry average. The company is the market leader in Kerala now with a 20 per cent share.