Kolkata, May 5 (UNI) Kesoram Industries Limited (KIL) has decided to involve a total investment of Rs 840 crore for expansion of its Uttaranchal tyre plant, raising Rs 500 crore through issuance of bonds, KIL director S K Parik said today.
Addressing the annual results of the company for the last fiscal here, Mr Parik said this includes one 'Radial Tower Plant' with 100 MT per day capacity involving investment of Rs 495 crore and another 'Bias Tyre Plant' with 125 MT per day capacity with investment of Rs 345 crore.
''These expansions are in full swing and going to be completed by December, 2009,'' Mr Parik said.
He said the company was presently implementing a Rs 550 crore expansion plan of its cement unit in Karnataka, which included a thermal power plant having a capacity of 17.5 MW to make it a energy sufficient plant.
''The expansion programme is progressing as per schedule and the production is likely to commence by December this year,'' he said.
Mr Parik said at Uttaranchal the greenfield project for 'Bias Tyre' was undertaken with 257 MT per day capacity involving investment of Rs 750 crore which was also going well.
''The first phase commercial production of the unit is expected to begin in the middle of this month and the last phase is expected to be completed by December this year,'' he maintained.
UNI ADG LL DB1851