Coal India to infuse Rs2,785cr in 20 beneficiation plants
Coal India has outlined a capital of Rs2,785 crore to set up 20 coal beneficiation plants with a cumulative capacity of 110 million tonnes. The company has also set aside Rs6,000 crore to acquire coal mines in the US, Australia, Indonesia and South Africa. According to Partha S Bhattacharyya, Chairman, Coal India, the company will improve its margins by raising the level of washed coal to 40% of total production from the current 3%.“Our intention is to have a beneficiation plant in all open-cast mines with a production capacity of 2.5mt per annum,” he said.
Bosch Packaging `25 cr expansion plans
Bosch Packaging Technology, manufacturers of packaging machinery, recently announced its latest expansion plans for the Indian market with an investment of `25 crore in Goa.
According to VK Viswanathan, Managing Director of Bosch India, the new investment in plant and machinery will solidify company’s future plans and leadership position in all the three business verticals, viz, pharma, confectionery and packaging machines.
Hindware plans `350cr capacity expansion
HSIL Limited (HSIL), formerly Hindustan Sanitaryware & Industries Limited is planning a capex of `350 crore in the next 30 months for capacity expansion of its sanitaryware, faucet, and container glass plants. The company completed a qualified institutional placement (QIP) for `150 crore last week to fund the capacity expansion plan.
“The rest of the funds (Rs200 crore) would come from internal accruals,” said Sandeep Somany, Managing Director, HSIL.
The raise amount will be spent on three accountsfirstly, increasing the capacity of its ceramic tiles plant from 28 lakh pieces to 50 lakh pieces in three phases.
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