The projects are estimated to cost approximately Rs 3000 crore, which is proposed to be funded through internal accruals.
Shares of ACC gained 2.3 percent intraday Wednesday after company board approved the expansion proposals.
The company board has granted its approval for setting up a Greenfield Integrated Cement Plant at Ametha, Madhya Pradesh along with expansion of the existing grinding unit in Tikaria, Uttar Pradesh and a third grinding unit in Uttar Pradesh.
It also approved the setting up of 1.1 MTPA Cement Grinding facility at the existing location at Sindri, Jharkhand.
The projects are estimated to cost approximately Rs 3000 crore, which is proposed to be funded through internal accruals.
The company has an existing capacity of 33.41 MTPA and in 2017 the utilization rate was 79 percent, company said.
The above projects are proposed to be completed within a period of three years, which will allow the company to strengthen its presence in its markets, it added.
At 11:30 hrs ACC was quoting at Rs 1,467.20, up Rs 33.10, or 2.31 percent on the BSE.
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