Shree Cement to invest Rs 2k crore

Mumbai: Shree Cement on Friday announced a Rs 2,000 crore investment in Maharashtra's Vidarbha region to set up a 2 million tonnes per annum (MTPA) cement manufacturing unit. The new investment will be part of the group's three-year plan to take its overall capacity to 80 MTPA from the present 68 MTPA, a top official said. Hari Bangur, the chairman of Shree Cement, said the group has had a long-standing association with the western Indian state, which includes a grinding unit in Pune, which is running successfully. It is planning to put up a plant in Chandrapur district's Kondala and also signed a letter of intent for the proposed investment in the presence of Maharashtra's Chief Minister Devendra Fadnavis, Bangur said.