Birla Corp to expand cement capacity

Kolkata, Sept 19 (UNI) M P Birla group flagship company Birla Corporation Ltd would invest around Rs 250 crore for expanding cement capacity by 1.25 million ton at its Satna (Madhya Pradesh) and Chanderia (Rajasthan) units by debottlenecking.

Company Chairman R S Lodha informed that the expansion would be carried through internal accruals and debts. The company had initiated talks with the Banks and financial institutions for fund.

The project would be completed in 18 months, he said adding the expansion projects would result in reduction in energy consumption.

Speaking at the sidelines of the company's 86th annual general meeting, Mr Lodha said the company was also examining opportunities in the real estate sector but no decision had been taken so far.

The company reported a 45 per cent jump in net profit at Rs 125.76 crore over the previous year.

The company declared a dividend of Rs 2.25 per share of Rs 10 each for 2005-06.

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