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Business EconomyPosted at: Apr 2 2024 4:45PM


Shree Cement inaugurates 3 mn ton cement plant ahead of schedule; invests Rs 2500 cr

New Delhi, Apr 2 (UNI) Shree Cement on Tuesday said it has inagurated its new integrated plant at Dachepalli village in Guntur of Andhra Pradesh and operational six months ahead of schedule.
The new plant has been built with an investment of more than Rs 2,500 crore and has cement production capacity of 3 MTPA.
The new plant will propel Shree Cement’s manufacturing capacity to 56.4 MTPA, further solidifying its position as a key player in the cement industry, the company said in a statement here adding it becomes growing cement company as it increased capacity by 9.5 million tons in FY 2023-24 through 3 new green field plants, with an investment of over Rs 7000 crores.
Built with an investment of over Rs 2,500 Crore, the Guntur plant will be Shree Cement’s sixth integrated production facility in the country and second in the Southern region after Kodla in Karnataka.
Speaking on the occasion, Neeraj Akhoury, Managing Director, Shree Cement Ltd, said "We are committed to growing responsibly. The Guntur plant reflects this by using advanced technology for manufacturing and controlling emissions, making high quality cement with efficient use of energy.
“The plant will also drive economic growth and well-being in the area through employment opportunities and partnership with local communities,” he added.
The new unit is expected to generate approximately 700 direct jobs and 1300 indirect jobs, the company said.
The newly inaugurated plant places a significant emphasis on environmental sustainability. This state-of-the-art facility is designed to utilise 30 per cent Alternate Fuel and Raw materials (AFR), such as municipal waste and biomass. It will set a standard for the industry in India, having the highest AFR usage in the sector.
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