Shree Cement to set up Rs 1,500 cr greenfield cement factory in Guntur

Shree Cement’s managing director HM Bangur and Joint MD Prashant Bangur along with a delegation called on Chief Minister YS Jagan Mohan Reddy in the latter’s camp office at Tadepalli and plans to set up a greenfield cement plant in Guntur district worth Rs 1,500 crore.

Shree Cement’s Joint MD Prashant Bangur has promised to conclude the project in two years. The company has cement production and allied sector facilities in nine States, and this will be its first facility in Andhra Pradesh.

Discussions were conducted on installing the cement facility at Pedagarlapadu village in Dachepalli Mandal of Guntur district.

The Chief Minister told the media that Andhra Pradesh is the best destination for investments and explained the incentives being provided to the Industries sector in the state.

Speaking on the occasion, the Shree Cement MD said that the Chief Minister has been operating wholeheartedly to enhance the position of the state. The Chief Minister was working as a Chief Executive Officer (CEO) of a firm.

He said that they were aiming to set up the cement facility in AP as the development rate of the state is higher than the national growth rate, and it will enhance more. JMD Prasanth Bangur said that installing a large cement facility would employ many people, directly and indirectly, thereby ensuring the area's development.

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