JK Lakshmi to revive its Udaipur plant at Rs 350 cr

To revive its Udaipur plant as part of its move to augment capacity, JK Lakshmi Cements plans to spend Rs 350 crore. JK Lakshmi Whole-time Director Shailendra Chouksey told a leading news agency that the company will be spending nearly Rs 350 crore for reviving the operations. This will help the company to add nearly 1.4 million tonne to its existing capacity, thus enabling it to cater to the growing demand for cement. After the Board for Industrial and Financial Reconstruction (BIFR) recently sanctioned a rehabilitation scheme for the Udaipur unit, earlier declared sick, JK Lakshmi decided to revive the operations as part of its overall plan to nearly double its capacity in the mid-term. The revival of the plant is expected to be completed by September-October 2014, Chouksey said. Of the Rs 350 crore investment, over Rs 100 crore will have to be brought in by JK Lakshmi and the rest will be debt, Chouksey said.