Shree Cement today said it has entered into a memorandum of understanding with the Karnataka government to invest INR2000 in a new cement plant and power unit.
The company will invest INR1500 on a cement plant with a capacity of three 3Mt and the remaining INR500 crore on a 100MW plant, Shree cement said in a statement.
"We are delighted with this development and with the signing of this MoU, we would be able to capture more opportunities in one of the fastest-growing markets in the country," Shree Cement Managing Director HM Bangur said.
The completion time for both projects remains undisclosed.
