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HomeNewsIndustry NewsShree Cement invests over Rs 2,500 crore to set up cement plant

Shree Cement invests over Rs 2,500 crore to set up cement plant

Shree Cement has inaugurated its integrated cement plant at Dachepalli village, Guntur, Andhra Pradesh having a production capacity of three MTPA.

Built with an investment of Rs 2,500 crore, the Guntur plant will be its sixth integrated production facility in the country. The new unit is expected to generate approximately 700 direct jobs and 1,300 indirect jobs.

Neeraj Akhoury, managing director of the company said, “This facility is designed to utilise 30% Alternate Fuel and Raw materials (AFR), such as municipal waste and biomass. The Limestone crusher is placed 40 ft below ground level, within the mining pit which help reduces diesel usage.”

Approximately 75% of the total power requirement is met through in-house waste heat recovery plant of 12 MW and solar power plant of 21.5 MW.

This will take company’s overall manufacturing capacity to 56.4 MTPA. It increased its capacity by 9.5 million tons in FY24 through three new green field plants, with an investment of over Rs 7,000 crore.

It aims to achieve its production target of 80 MTPA capacity by 2028, by when 13 more plants will be operational, five of which are scheduled to be commissioned in FY25.

SourceETREALTY
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