Shree Cement will be foraying in the West Indian market in coming six months, with a 2.5 million tpa grinding unit near Pune, Maharashtra. This will be the company’s maiden entry into Maharashtra to cater to demand for the western part of the state.
The unit will be come up over 65.7 acre and will entail an investment of Rs 625 crore. It doesn’t have linkages to limestone reserves and is getting this from a Shree Cement unit near Kodla village in Karnataka.
The idea is to initially sell in the Pune-Ahmednagar-Navi Mumbai-Aurangabad area. Shree Cement has targeted a capacity of 55 million tpa by 2023 and 75-80 million tpa by 2026.
The expansion into Western India is part of this. In 2018, it commissioned a plant in Karnataka, thereby entering South India. It had entered the eastern market four-five years before, with a plant in Jharkhand and in Bihar. It is now on the lookout for another facility in West Bengal where it is in the process of acquiring land. It is also readying 2.5 million tpa grinding unit in Odisha.