Construction Industry News
Shree Cement, a subsidiary of the BG-HM Bangur group, is set to start work on its proposed project in Bengal within a month. The group plans to invest more than Rs 600 crore in the cement grinding unit.
This will be the company's first production facility in the state where it is headquartered. Shree Cement's MD, H M Bangur, told the media that West Bengal is now ready for large investments. In a webinar hosted by the Calcutta Chamber of Commerce, Bangur was going to speak with WBIDC chairman Rajiv Sinha.
Shree Cement's joint MD, Prashant Bangur, told the media that the cement grinding unit would cost more than Rs 600 crore. The project's capacity would be 3 million tonnes (mt). For the cement project, it has purchased 80 acres. Bangur continued, Direct employment would be 150, while indirect employment would be over 1,000.
Shree Cement's current capacity is 44 million tonnes (mt), and this would increase it to 47 million tonnes. Only Ultratech and Holcim can match this capacity. H M Bangur first announced the project during the Bengal Global Business Summit in 2021.
H M Bangur said earlier in the webinar that he is now a big fan of Bengal. The state's growth outpaces the national average, and public perception has shifted in the last year. No man-days have been lost in the last ten years, and the work culture has improved as well.
Bangur also suggested that the state government consider reducing the number of incentives currently available, but instead provide incentives to businesses upfront. WBIDC chairman Rajiva Sinha told the media that the organisation has begun gathering data on the presence of large corporations in the state.
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