NCL Industries to invest Rs 150 cr in captive power plant

Mumbai : Hyderabad-based cement maker NCL Industries Ltd is planning to set up a 30-MW captive power plant with Rs 150-crore investment.The plant would be set up at its Mattapalli cement manufacturing unit in Nalgonda district of Andhra Pradesh.

"We are setting up 30 MW captive power plant with an investment of Rs 150-crore at Nalgonda district of Andhra Pradesh," NCL Industries managing director K Ravi said in a statement here.The objective behind planning our own power plant is to ensure a regular power supply for cement manufacturing activity as power supply had become very uncertain in the state of Andhra Pradesh, Ravi said.In addition, the Hyderabad-based company eyes to sell the surplus power that will add to its revenue. Its total power-requirement is around 23 MW.

About Rs 100 crore would be mobilised through debt and balance from internal accruals, Ravi said.

The company reported lower net profit of Rs 1.21 crore in Q2 FY 13 as against Rs 11.08 crore in the same period last year.

The net sales also stood lower at Rs 90.14 crore in Q2 FY 13 as compared to Rs 109.37 crore in Q2 FY 11.

The operations of the company have been adversely affected due to severe power cuts and sluggish market conditions for cement, the company said in a statement.

 

Source: Financial Express