The group's Zambian operations are managed through the Roan Antelope Mining Corporation, a firm acquired in September last year. The $103.5-million investment plan will cover the copper project in Muliashi North and refurbishment of the smelter, besides setting up a new acid plant. The fund infusion will enhance the production capacity of the mines from the current 45,000 tonnes of finished copper to 65,000 tonnes in the next two years.

The production capacity, according to in-house estimates, is slated to touch 100,000 lakh tonnes by 2002. Kilborn SNC Lavalin Europe, the world's leading mining consultants, havebeen assigned the contract of the feasibility study of the Muliashi North project. The consultants have also received mandate for a technical audit of the mines and the concentrator, in an effort to improve operational efficiency and increase production levels. "If the feasibility report is positive, this will mean an additional 30,000 tonnes of copper cathodes by 2002," the company has said.

Group sources said that the overseas investments would not in any way be affected by the currency turmoil and Moody's downgrade, as the investments will come from its overseas operations. Binani Metals, the group's UK venture, is engaged in trading non-ferrous metals.

The group has set up its own cement-grinding unit in Dubai, and has ventured into tea plantaion by buying gardens in Zambia. Roan Antelope Mining has recently raised a loan of $20 million, syndicated through the Union Bank of Switzerland.

For its domestic operations, the group has devised a five-year plan to augment its presence in non-ferrous metalsand achieve global economies of scale in its operations. The flagship Binani Industries proposes to set up a greenfield 70,000-tonnes-per annum lead smelter and 100,000 tpa zinc smelter in Gujarat. The capacity of existing zinc smelter at Binanipuram is also slated to be raised to 40,000 tpa.

In a bid to rationalise its cement operations, Binani Industries has decided to merge, with retrospective effect from November 1997, its cement unit held under a private company, Binani Cement Pvt Ltd. The cement plant has a large capacity of 1.65 million tonnes per annum. Located at Binanigram, Pindwara, Rajasthan, the cement capacity also comes with a 25 mw captive-power plant, run on thermal fuel.

In fact, in the five months ended March 1998, the plant has run up production of 0.44 million tonnes. The company is also implementing a special jetty -- the Navalakhi Jetty project -- to facilitate clinker exports. The group's clinker-grinding unit at Dubai is also under implementation. The group's initiative in cementcomes at a time when the sector is facing slowdown. Both in volumes and prices, cement companies are facing pressures. Industry sources say the northern region, where the Binani Industries facility is located, is cement-surplus, and so, in the immediate future, price realisation may continue to be low.