Shree Cement, an Indian Cement manufacturer, plans to make an investment of ₹ 4,750 crore in the states of Rajasthan and West Bengal. On 14th September 2021, Board of Directors of Shree Cement approved the investment plan, as mentioned in the company’s NSE & BSE regulatory filing.
Details of Shree Cement’s Investment Plan
An Integrated Cement plant having clinker capacity of 3.8 MTPA and Cement capacity of up to 3.5 MTPA has been approved by the Board of Directors of Shree Cement to be set up at Gothra village in Nawalgarh tehsil of Rajasthan.
Estimated investment for the integrated Cement plant is approximately ₹ 3,500 crore and is expected to be completed by fourth quarter of FY25.
Shree Cement’s Board of Directors have also approved setting up solar power plants at various locations having combined capacity up to 106 MW to meet the captive requirement of various cement plants of the company. The investment for solar power plants is estimated at around ₹ 500 Cr and would be financed through internal accruals. The solar power projects are expected to be completed by second quarter of FY23.
Shree Cement also mentioned in its exchange filling on 14th September 2021 “The company has committed to maximize the use of clean energy into its operations. Setting up of the above Solar Power plants will enhance the proportion of clean energy usage in total energy consumption of the Company. The same will reduce the fossil fuel consumption and help in reducing carbon footprint of the company”.
The proposal for setting up of a Clinker Grinding Unit having capacity of 3 MTPA at Village Digha & Parbatpur, in Purulia district of West Bengal, with an investment of around Rs 750 crore has also received the green signal by the board. This project is expected to be completed by last quarter of FY24.
About Shree Cement Limited: Shree Cement is an Indian Cement manufacturer and has a consolidated Cement Production Capacity of 47.4 Million tonnes per annum. Shree Cement has brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong.