Shree Cement plans to invest INR70bn (US$744m) in cement manufacturing facilities across three districts of Andhra Pradesh, India, according to company vice-president Sumanth Gautham.
Speaking to PTI on the sidelines of the CII Partnership Summit in Visakhapatnam on 12 November, Mr Gautham said the investment would cover Kadapa, Anakapalli and Guntur districts.
He attributed the decision to incentives offered by the state government and its investment-friendly environment, also highlighting the speed of land allotment for industrial projects.
The announcement did not specify the proposed capacity at each location, the allocation of investment between projects or construction and commissioning schedules. It also remains unclear whether the proposed investment in Guntur would expand Shree Cement’s existing Dachepalli operation or involve a separate facility.
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