Shree Cement to Invest ₹2,000 Crore in Maharashtra Manufacturing Unit.

Shree Cement recently announced a ₹2,000 crore investment to set up a 2 million tonnes per annum (MTPA) cement manufacturing unit in the Kondala area of Chandrapur district, Maharashtra. The move is part of the company’s three-year expansion plan to raise its total capacity from 68 MTPA to 80 MTPA.

Hari Bangur, Chairman of Shree Cement, said the group has a long-standing presence in Maharashtra, including a successfully operating grinding unit in Pune. He added that the new plant’s land acquisition is nearly complete, the Terms of Reference (ToR) has been received, and the project is now awaiting environmental clearance. “After EC, it will take around two years for the entire plant to be operational. The total investment will be about ₹2,000 crore,” Bangur said.

Highlighting India’s growth potential in cement consumption, Bangur noted that per capita consumption in India is around 350 kg—less than half of the global average—and is expected to rise toward the world standard of 600–1,000 kg per person.

On funding, he said the company will utilise over ₹5,000 crore in cash reserves for the project and does not rely on borrowings for expansion, preferring internal accruals.

Bangur also commented on industry consolidation, noting that Shree Cement ranks third in India after Ultratech and the Adani Group’s ACC and Ambuja Cements. He said further expansion plans are in place, and once the 80 MTPA target is achieved after 2028, the company may plan to increase capacity to 100 MTPA.