Shree Cement’s 80 mt capacity expansion plans by 2030 on track

Shree Cement plans to build an integrated cement plant in Rajasthan, a grinding unit in West Bengal, and several solar power plants across the country.

The company's capital expenditures are in line with its goal of reaching an annual capacity of 80 million tonnes per annum (mtpa) by 2030.

Shree Cement's MD, HM Bangur, told the media that the company is spending between Rs 4,500 crore and Rs 5,000 crore to bring the three projects online Rs 500 crore for the power plant, Rs 750 crore for the grinding unit in West Bengal, and the rest for the integrated unit in Rajasthan's Nawalgarh.

Bangur said that the Rajasthan unit is a greenfield project with a lot of overburden to remove before the limestone can be extracted. While the West Bengal unit is expected to be completed in less than two years, the work on the solar power plant to reduce costs is expected to be completed in less than a year.

Shree Cement currently has an 8,000 crore cash balance.

Bangur believes that the cost pressure on cement is so great that no one can afford it at the current price. On the other hand, Bangur informed that cement prices will rise regardless of demand, or the business will fail.

Shree Cement is an Indian cement company that was founded in 1979 in Beawar, Rajasthan. It is now headquartered in Kolkata and is one of Northern India's largest cement producers. Shree Power and Shree Mega Power are two other brands of power that it produces and sells.

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Also read: Shree Cement to begin work on its Rs 600 cr project in West Bengal