The announcement was made during market hours today, 12 December 2018.

Meanwhile, the S&P BSE Sensex was up 317.87 points, or 0.9% to 35,467.88

On the BSE, 7,981 shares were traded in the counter so far compared with average daily volumes of 20,000 shares in the past two weeks. The stock had hit a high of Rs 1,480 and a low of Rs 1,428.05 so far during the day.

ACC informed that the board of directors granted its approval for setting up a greenfield integrated cement plant at Ametha, District Katnl, Madhya Pradesh (Clunker capacity of 3 MTPA and Cement capacity of 1 MTPA) along with expansion of the existing grinding unit in Tikaria, Uttar Pradesh (Cement capacity of 1.6 MTPA) and a third grinding unit also in Uttar Pradesh (cement capacity 2.2 MTPA). The board also approved the setting up of 1.1 MTPA cement grinding facility at the existing location at Sindri, Jharkhand.

The projects are estimated to cost approximately Rs 3000 crore, which is proposed to be funded through internal accruals. The company has an existing capacity of 33.41 MTPA. In 2017 the utilization rate was 79%. These projects are proposed to be completed within a period of three years.

ACC reported 15.21% rise in consolidated net profit to Rs 209.11 crore on 10.34% rise in total income to Rs 3468.37 crore in Q3 September 2018 over Q3 September 2017.

ACC is one of India's leading producer's of cement and ready mix concrete.