Brief: Sagar Cements Approves Investment Of 1.50 Bln Rupees In Satguru Cement

Sagar Cements

05/12/2018 12:44

Dec 5 (Reuters) - Sagar Cements Ltd  SGRC.NS :
    * APPROVED INVEST 1.50 BILLION RUPEES IN SATGURU CEMENT
    * APPROVED TO INVEST 1.08 BILLION RUPEES IN JAJPUR CEMENTS
    * TO BUY JAJPUR CEMENTS AND SET-UP GREEN FIELD GRINDING UNIT
OF
1.5 MILLION TON CAPACITY IN JAJPUR AT TOTAL COST OF 3.08 BILLION
RUPEES
    * INVESTMENT IN SATGURU CEMENT TO SET UP GREEN FIELD CEMENT
MANUFACTURING PLANT,WASTE HEAT RECOVERY POWER PLANT FOR COST OF
4.26BLN RUPEES
    * BOTH PROJECTS ARE BEING PLANNED TO BE COMPLETED BY MARCH
31,
2021
    * TO FUND INVESTMENTS, APPROVED ISSUE OF 3.1 MILLION
CONVERTIBLE
WARRANTS AT NOT BELOW 725 RUPEES EACH ON PREFERENTIAL BASIS

Source text: http://bit.ly/2BQJX1x
Further company coverage:  SGRC.NS 

 ((Reuters.Briefs@thomsonreuters.com;))