“We are working on achieving financial closure for the proposed plant in next four/five months,’’ Mr K Ravi, Managing Director, NCL Industries said.
The plant would be set up at its Mattapalli cement manufacturing unit in Nalgonda district of Andhra Pradesh.
“The objective behind planning our own power plant is to ensure a regular power supply for cement manufacturing activity as power supply had become very uncertain in the State,’’ Mr Ravi said.
In addition, the Hyderabad-based company hopes to sell the surplus power that will add to its revenue. Its total power-requirement is around 23 MW.
About Rs 100 crore would be mobilised through debt and balance from internal accruals, Mr Ravi said.
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