Shree Cement to invest Rs. 7,000 crore to add 12 million tonnes of capacity.

Shree Cement Ltd. recentlyt announced that it will invest Rs. 7,000 crore to add 12 million tonnes to its current production capacity in India. In a regulatory filing, the company said that it has also decided to diversify into ready mix concrete (RMC) business and will start setting up five RMC units in the country by the end of this financial year.

Shree Cement will set up a clinker manufacturing plant with a capacity of 3.65 million tonnes at Pali, Rajasthan. Another one, with the same capacity, will be added in Kodla, Karnataka.

It will also set up cement plants with capacities of 6 million tonnes in Pali (Rajasthan), Etah (Uttar Pradesh), Kodla (Karnataka), and Bangalore (Karnataka).

The proposed clinker and cement manufacturing capacities are expected to be set up by March 2025. These plants will also have waste heat recovery-based power plants.

"The existing cement capacity of the company (including that of the wholly owned subsidiary) is 49.90 million tonnes per annum (MTPA) in India. During the year 2022-23, the utilization rate was 70 per cent," it said.

BS