Indian-based Orissa Cement Ltd. (OCL) of the Dalmia Group proposes a Rs 100 crore expansion-cum-modernisation for its cement and refractories making units at Orissa. It is investing Rs 76.81 crore for…
Indian-based Orissa Cement Ltd. (OCL) of the Dalmia Group proposes a Rs 100 crore expansion-cum-modernisation for its cement and refractories making units at Orissa. It is investing Rs 76.81 crore for expanding its grey cement capacity from the existing 800,000 to 1 million tonnes per annum. The expanded capacity will be operational by the end of 1996. The unit will be modernized to increase cost efficiency. OCL has one of the largest captive power plants in the industry and has capacity utilisation of 112%. It will invest Rs 35 crore to Rs 37 crore for expanding and modernising its silica manufacturing facilities. OCL“s refractory division manufactures basic, silica, free clay and high alumina refractories with installed capacity of 72,000 tonnes per annum. Plans are afoot to hike silica refractory capacity from 17,000 tonnes to 25,000 tonnes by the third quarter of 1996. The company has a 44% share in the domestic glass refractory market and has the second-largest share in blast furnace refractories. During 1994-95, OCL“s refractory exports fetched US$ 2.35 million, which is expected to be doubled in 1995-96. The company already has orders worth US$ 3 million. OCL plans to set up refractory facilities in Europe and Russia to manufacture silica refractories. The expansion-cum-modernisation cost will be funded by loans and proceeds of a proposed issue of convertible debentures. In late January 1996, OCL also announced that it had changed its name to OCL India Ltd. to reflect its growing international scope and a diversified business portfolio.