KCP to invest Rs 187 cr , foraying in to hospitality sector

KCP Ltd is planning to invest around Rs 187 crore in its proposed diversification into hospitality sector and in setting up a captive power plant, among others.

The company has said it is planning to set up a 2x18 MW captive power plant at the site of its new cement unit-II at Muktyala in Krishna district of Andhra Pradesh. The estimated cost of the project is Rs 164 crore and it has received a term loan of Rs 114 crore from banks.

The group is planning a foray into hospitality sector by setting up a hotel in Hyderabad at a cost of Rs 63.02 crore, excluding land. Around Rs 45 crore has already been sanctioned by a bank as term loan for the project, which would have 130 rooms.