Shree Cement to set up Rs 1,500-crore cement plant in Dachepalli
Shree Cement MD Hari Mohan Bangur and JMD Prashant Bangur during a meeting with Chief Minister Y S Jagan Mohan Reddy at the latter’s camp office in Tadepalli on Monday
Amaravati: Shree Cement company, one of the biggest cement manufacturers in north India, is likely to set up its unit in Andhra Pradesh with an investment of about Rs 1,500 crore at Green Field Cement plant at Pedagarlapadu village in Dachepalli mandal of Guntur district.
This was stated by Managing Director of Shree Cements H M Bangur after his meeting with Chief Minister Y S Jagan Mohan Reddy. He appreciated the manner in which the Chief Minister was working like a CEO of a company to take the state forward.
He said that they are setting up the cement plant in the State as the growth rate of the State is higher than the national growth rate and it will improve more in the future with the vision of the Chief Minister.
JMD Prashant Bangur said setting up a big cement plant will provide employment to many people directly and indirectly. They said the Chief Minister explained to them about the advantages of setting up the unit in the State and why Andhra Pradesh was the best destination.
He also explained about the incentives that were being given to promote industries in the State.
Shree Cement has presence in nine States with cement and allied sectors manufacturing plants. It is also into power generation. Once the work on the plant begins, it would be ready for operation in about 24 months' time.