Century textiles to invest Rs 1,565 cr in expansion

New Delhi, July 30: Century Textiles and Industries Ltd today announced it would invest Rs 1,565 crore to expand its business in textiles, cement manufacturing and power generation.

The company will invest Rs 600 crore in setting up a new textile mill, having a capacity of manufacturing 30 million metres of fabrics per annum, at Jhagadia in Bharuch, Gujarat, along with a 30 MW Captive Thermal Power Plant, a statement said.

In addition, the company will also set up an additional Cement manufacturing unit, at an installed capacity of 2 million tonnes per year, at the existing site of Manikgarh Cement Division, at Gadchandur in Maharashtra, including 35 MW Captive Thermal Power Plant at a total capital expenditure of about Rs 790 crore.

A new cement grinding unit of 1.50 million tonnes per annum capacity under the name 'Sonar Bangla Cement' at Sagardighi in West Bengal will also be installed with an investment of Rs 175 crore, it added.

Meanwhile, the company today posted an increase of 51.25 per cent in its net profit at Rs 69.73 crore for the first quarter ended June 30, 2006, as against Rs 46.10 crore for the corresponding period last year.

The company's total income also rose by 9.3 per cent to Rs 734.32 crore in Q1 FY07 as compared to Rs 671.37 crore in Q1 FY06.

UNI