"Shree Cement to Invest ₹2,500 Crore in AP Plant, Aiming to Strengthen Cement Industry Presence"

On Tuesday, cement giant Shree Cement unveiled its latest integrated plant in Guntur, Andhra Pradesh, marking a significant stride in bolstering its manufacturing capacity to 56.4 million tonnes per annum (mtpa).

According to a statement filed with the stock exchange, the newly inaugurated plant, boasting a cement production capacity of 3 mtpa, represents an investment of ₹2,500 crore. This expansion initiative is poised to further solidify Shree Cement's standing as a key player in the cement industry.

"The Guntur plant, constructed with a ₹2,500 crore investment, stands as Shree Cement’s sixth integrated production facility in the country and its second in the Southern region after Kodla in Karnataka. Strategically located to serve the burgeoning markets of Telangana and Andhra Pradesh, the plant is expected to contribute significantly to the economic growth of the region," the company stated.

Remarkably, the new unit was inaugurated six months ahead of schedule and is anticipated to create around 700 direct jobs and 1,300 indirect employment opportunities.

Neeraj Akhoury, Managing Director of Shree Cement, emphasized the company's commitment to sustainable growth. "The Guntur plant reflects this commitment by incorporating advanced technology for manufacturing and emission control, enabling the production of high-quality cement while ensuring efficient energy utilization," stated Akhoury.

Shree Cement boasts cement manufacturing facilities across India and the UAE. The commissioning of the Guntur unit signifies a significant milestone in the company’s journey towards achieving its production target of 80 mtpa capacity by 2028. To achieve this ambitious goal, Shree Cement plans to have 13 more plants operational by 2028, with five slated for commissioning during the current fiscal year.

HBL