Shree Cement to Invest Rs 800 Crore in New Bihar Plant

Shree Cement, one of India’s top five cement producers, has announced a significant investment of Rs 800 crore to establish a cement plant in North-East Bihar. The Rajasthan-based company, promoted by the Bangur family, revealed the plans during the Bihar Business Connect 2024, a global investors’ summit.

The plant will have an annual capacity of 2 million tonnes and is expected to bolster the industrial growth of the region. Speaking on the development, H M Bangur, Chairman of Shree Cement, stated, “We have signed an MoU with the Bihar government to invest Rs 800 crore. This plant underscores our commitment to driving economic and infrastructural development in Bihar.”

The Memorandum of Understanding (MoU) was formalized on the second day of the summit, marking a notable milestone for both the company and the state.

Shree Cement currently operates with a robust installed capacity of 46.9 Million Tonnes Per Annum (MTPA) in India and 50.9 MTPA globally. The company’s ongoing expansion includes projects in Jaitaran, Rajasthan (6 MTPA), Kodla, Karnataka (3 MTPA), Baloda Bazar, Chhattisgarh (3.4 MTPA), and Etah, Uttar Pradesh (3 MTPA).

The group is well-known for its popular cement brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement, and Rockstrong. For FY24, the company reported impressive revenue of Rs 19,585.53 crore, showcasing its leadership in the cement industry.

This new venture in Bihar is expected to generate employment opportunities and significantly contribute to the state’s infrastructure and real estate sectors. The investment aligns with Bihar’s push to attract global investments and foster economic development.