Shree Cement's Strategic Investment in Bihar's Cement and Solar Sector

Shree Cement, one of India's top cement producers, plans to invest Rs 1,100 crore in Bihar for a cement plant and solar power project in Purnea district. An MoU for Rs 800 crore was signed, initiating a 2 million tonne annual capacity cement plant. The additional Rs 300 crore investment targets solar power development.

Shree Cement, based in Rajasthan and counted among India's leading cement producers, announced a significant investment trajectory in Bihar. The company is set to deploy Rs 1,100 crore in Purnea district for the construction of a cement plant and a solar power project.

During the Bihar Business Connect 2024 summit, an MoU was inked with the Bihar government for the cement plant, which will have an annual capacity of 2 million tonnes, representing an Rs 800 crore investment. However, the agreement for the Rs 300 crore solar project remains unsigned.

Currently, Shree Cement boasts an impressive 46.9 million tonnes per annum production capacity within India, extending to 50.9 million tonnes worldwide. The company's domestic and international reach is underscored by its ambitious expansion projects in Rajasthan, Karnataka, Chhattisgarh, and Uttar Pradesh.

(With inputs from agencies.)