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News about JK Lakshmi Cement Limited

June 12th, 2007

NSE Press Release

The media had reports on June 11, 2007 that JK Lakshmi Cement Limited plans Rs 400cr expansion, towards setting up a cement plant, a grinding unit, a co-generation unit and seven ready mix concrete (RMC) plants.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

JK Lakshmi Cement Limited has vide its letter inter-alia stated,”As stated in the Press Release dated 16th May 2007, the Company is pursuing the RMC business aggressively. It is already operating 5 RMC plants and hopes to add at least 5 to 6 plants during the coming financial year. Further, the Company has already started the work on the projects for further expanding its capacity from the existing 3.4 million MT to 5 million MT. The aforesaid capacity enhancement is expected to be completed by October 2008. This will entail additional power requirement of about 18 MW and necessary modification, etc, in the Plant. For additional power, the Company will have to enhance the capacity of the captive thermal power project by equivalent quantity or outsource it if the power is made available at the same or cheaper cost than the cost of captive generation. The estimated investments for the aforesaid projects would be about Rs 400 crore.”

Entry Filed under: Equities, NSE, Cement