By IANS
Jaipur : Celebrating its silver jubilee, JK Lakshmi Cement Limited, part of the JK Group, has drawn out an ambitious Rs.10 billion ($248 million) expansion programme as part of its blueprint for next 25 years.
“Team JK Lakshmi” was working out a blueprint for the future that would make the next 25 years even more memorable, Shailendra Chouksey, a whole-time director of the company, told reporters here.
Chouksey was here to kick-start the yearlong 25th anniversary celebrations.
“We shall shortly commence work on at least one new greenfield project. Our vision is to increase our production level to 12 million by 2012, including 10 million tonnes of cement and 2 million cubic metres of ready-mix concrete.
“We propose to invest around Rs.10 billion (Rs.1,000 crore) on the expansion plan, out of which Rs.7 billion would go towards setting up of a new plant,” he added.
JK Lakshmi Cement Ltd has a state-of-the-art plant at Jaykaypuram in Sirohi district of Rajasthan with a capacity of more than 3.5 million tones.
Using world-class technology from Blue Circle Industries and Fuller International of the US, the company produces cement that caters to the key markets of northern and western India.
In a span of 25 years, it has grown almost seven times in production terms – from 500,000 tonnes to 3.5 million tonnes.
During the first quarter of 2007-08, the company reported a 41 percent rise in net sales to Rs.2.7 billion from Rs.1.9 billion in the same period last year, while net profit rose from Rs.388.5 million to Rs.684.6 million.