India: Shree Cement has set aside US$905m to build three new integrated cement plants with a production capacity of 10Mt/yr. The first new plant in the line will have a production capacity of 3Mt/yr and will be situated in Baloda Bazar, Chhattisgarh. The Indian cement producer successfully bid for limestone deposits in Baloda Bazar in February 2016. The new plant will be announced by July 2016, according to the Business Standard newspaper.
“We will be bidding in at least 12 more limestone auctions and hope to win three to four of these. This will help us set up plants to increase our capacity,” said the Managing Director of Shree Cement, H M Bangur.
At present Shree Cement has a cement production capacity of 23.6Mt/yr from three clinker plants and six cement grinding plants in the states of Rajasthan, Uttarakhand, Haryana and Chhattisgarh. The expansion plans will be funded by the company’s internal accruals.
