Media reports suggest that Sanghi Cement would invest Rs 150 crore for buying ships and for setting up new jetties or terminals. The company would spend Rs 100 crore on its Mumbai jetty in the next three years.
Sanghi Industries has a captive jetty near its cement plant in Abdasa, Kutch and a sea terminal at Navlakhi port of Gujarat Maritime Board (GMB) in Rajkot district.
Besides, it is developing a sea terminal in Mumbai. While the company receives imported coal at Abdasa, 10 km from the plant, it uses Navlakhi for receiving, packaging and marketing cement in the Saurashta region.
Through this, it has saved around 12-14 per cent of costs compared to the road route of sending cement. Once its Mumbai terminal becomes operational, it will similarly package and market cement in Maharashtra, again saving around 12 percent of the cost.
The above investment is part of the Rs 275 crore investment plan devised by Sanghi Industries for the next 18 months. This also includes Rs 125 crore investment on enhancing capacity at its Kutch plant, reports indicate.
Meanwhile, the company plans to set up similar jetties and packaging and marketing centres at Goa and Kochi (Kerala) which could expand its market via coastal shipping to the southern states. Each such asset would cost Rs 50 crore, excluding the cost of land.