Cement major Ramco Cements Ltd has decided to invest over Rs 2,200 crore in various upcoming projects in Andhra Pradesh and Odisha.
S Vaithiyanathan, CFO, Ramco Cements, was quoted as saying by The Hindu: “Economic slowdown is an ideal situation to invest. We generally tend to invest during down cycle so that the plant would be ready for commissioning when the upswing starts.”
He added: “Our plan was to invest when the market was dull and be ready with an action plan, when the market gets going, so that we can reap full benefit. In the last two experiments, we tasted success and we are replicating it once again.”
Ramco Cements, according to the chief financial officer, has decided to increase its production capacity to 20 million tonnes by 2020 from 12 million tonnes.
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