Shree Cement announces INR47.5bn investment plan

Shree Cement announces INR47.5bn investment plan
15 September 2021

India’s Shree Cement has announced an INR47.5bn (US$645m) investment plan, which includes solar power projects, an integrated cement plant and a grinding works.

Around INR5bn will be used to set up solar power plants at its cement works across the country by September 2022, while INR7.5bn has been allocated to a clinker grinding project in Purulia, West Bengal, through its Shree Cement East subsidiary.

"The cement demand-supply situation in West Bengal appears quite favourable and thus, investment in cement plant in the state would be a viable proposition," said the company.

Finally, the proposed cement plant is expected to have a 3.8Mta capacity and be operational by the end of the 1Q24. The project, based in Nawalgarh Tehsil of Rajasthan, represents an investment of INR35bn.

Published under Cement News