Shree Cement, one of India’s leading cement manufacturers, has announced plans to invest Rs 2,000 crore in a new manufacturing unit in Maharashtra. The company aims to expand its production capacity and strengthen its presence in the western region of the country.
The new manufacturing unit will be set up in the Pune district of Maharashtra and is expected to have a production capacity of 3.5 million tonnes per annum. The project will be implemented in phases, with the first phase expected to be completed within the next two years.
Shree Cement’s investment in the new manufacturing unit is part of its expansion plans to increase its overall production capacity to 55 million tonnes per annum by 2025. The company currently has a production capacity of 43 million tonnes per annum and is one of the largest cement manufacturers in India.
The new manufacturing unit in Maharashtra will not only increase Shree Cement’s production capacity but also provide employment opportunities to local residents. The company has stated that it will adhere to all environmental and social regulations while setting up the new unit.
Shree Cement’s decision to invest in Maharashtra is a significant boost to the state’s economy. The state government has been actively promoting industrial investment in the region, and Shree Cement’s investment is expected to generate significant economic activity.
The cement industry in India is expected to grow significantly in the coming years, driven by the government’s infrastructure development plans and the growing demand for housing. Shree Cement’s expansion plans are well-timed to capitalize on this growth, and the company is expected to benefit from the increased demand for cement in the western region.
Overall, Shree Cement’s investment in the new manufacturing unit in Maharashtra is a significant development that will not only increase the company’s production capacity but also contribute to the growth of the state’s economy. The project is expected to provide employment opportunities, generate economic activity, and help meet the growing demand for cement in the region. With its strong track record of expansion and growth, Shree Cement is well-positioned to benefit from the opportunities emerging in the Indian cement industry.