India Cements has received board approval to invest up to INR 500 crore to set up two thermal power plants in Tamil Nadu (TN) and Andhra Pradesh (AP) for internal consumption. Apart from power generation, the plants would help in procuring fly ash, used for making blended cement. Mr VM Mohan joint president for corporate finance of India Cements said that the funds would partly come from debt and that the company was already in talks with lenders. The two thermal plants in AP and TN would have a capacity of about 50MW each. In the process of generating power, the plants would also produce fly ash, a raw material used in making blended cement.
