Shree Cement set aside Rs. 1,000cr for new plant

New Delhi : Shree Cement set aside Rs. 1,000cr for new plant Shree Cement, which is currently one of the biggest cement manufacturing companies in the northern region, has drawn up plans to set up cement manufacturing plant with a capacity of two million tons per annum near Raipur in Chhattisgarh entailing an investment of Rs. 1,000cr.

In this connection the company has already made considerable headways by acquiring 75 percent of the total land required for the purpose and is setting up its cement manufacturing unit very shortly, Managing Director H M Bangur said.

The upcoming cement making unit, which is going to be the first of its kind outside Rajasthan, is being funded through internal accruals and the company is in the process of placing orders for the requisite equipment for the clinker plant after which the manufacturer will set up the grinding unit on the site. The cement player is keen to add 1.5 million tons per annum to its current capacity of 12 mtpa. It is currently taking care of the cement requirement in the northern and central regions of the country, he added.