India: Shree Cement has signed a memorandum of understanding with the government of Karnataka to invest nearly US$1bn in cement manufacturing facilities over the next five years. The producer will build a cement plant in the city of Kalaburagi, with 3.5Mt/yr of clinker capacity and 3Mt/yr of cement capacity, for US$288m. The plant will create 300 jobs and start production in 2025.
Shree Cement will build a second plant nearby, in the Kalaburagi district. The plant will have a clinker capacity of 3.5Mt/yr and an eventual cement capacity of 6Mt/yr, to be commissioned in two phases. It will create 750 jobs and cost US$575m. Commissioning is scheduled for 2030.
The last project planned is for a clinker grinding plant in the district of Bangalore Rural, with a capacity of 3Mt/yr and a cost of US$98m. The facility will create 250 jobs and begin production in 2028.
Shree Cement has stated that it is ‘committed to sustainable development’ and will ‘incorporate advanced technologies to ensure environmentally friendly operations.’
