West Bengal Chief Minister Mamata Banerjee on September 4 inaugurated a Rs 550 crore maiden grinding unit of Shree Cement in West Bengal's Purulia district.
The state-of-the-art facility has a production capacity of three million metric tonne per annum (MTPA) and is strategically positioned to meet the surging demand for cement in West Bengal and neighbouring Jharkhand and to bolster the company's market share in eastern India, which is among the country's fastest growing markets, a company official said.
It is entirely funded through the group's internal accruals and has already commenced commerical production on schedule, the official said.
"I congratulate Shree Cement Limited on this achievement and the commencement of production at the new facility. This substantial investment strengthens our state's industrial prowess and underscores the growth potential of West Bengal's cement sector. We look forward to witnessing the positive impact it will have on our region's economy and employment opportunities," Banerjee said at the virtual inauguration from a CREDAI event in the city.
Company chairman H M Bangur said the company will set up another plant in Bengal.
"The Shree Cement Group has been consistently demonstrating its commitment to growth through a series of strategic investments. This venture not only generates employment opportunities for the region but also empowers us to enhance our manufacturing capabilities, efficiently meeting the burgeoning needs of the West Bengal market," he said.
With the commencement of the commercial production at the Purulia unit of Shree Cement, the total production capacity of the building material in the country has reached an impressive 50 MTPA. The company remains steadfast in its goal of exceeding 80 million tonnes of production capacity in the coming years, the official said. PTI BSM KK
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