Officials from Shree Cement on Monday met Chief Minister YS Jagan Mohan Reddy and held discussions for setting up a Greenfield Cement plant in Guntur district at an estimated cost of Rs 1,500 crore.
During the meeting with the company officials, the Chief Minister discussed how Andhra Pradesh is the best destination for investments and also the incentives being given to Industries sector in the state, an official release said.
Shree Cement has cement manufacturing and allied sectors plants in nine states and it will be setting up its first plant in Andhra Pradesh and the plan is prepared to complete the project in 24 months.
Speaking on the occasion, Shree Cement managing Director H M Bangur said the Chief Minister has been working wholeheartedly to improve the position of the state.
