Shree Cement Limited has signed a Memorandum of Understanding (MoU) worth Rs 8,350 crore with the Government of Karnataka, committing to invest in the state over the next five years. Under the terms of the MoU, Shree Cement plans to set up cement manufacturing facilities, which will not only bolster Karnataka's industrial growth but also create significant employment opportunities in the region.
The MoU between Shree Cement and the Government of Karnataka includes the establishment of an Integrated Cement Plant in Kalaburagi, featuring a clinker capacity of 3.5 MTPA and a cement capacity of 3 MTPA. With an investment of Rs 2,500 crore, the plant is expected to create approximately 300 direct jobs and commence operations by 2025.
Additionally, a Clinker Grinding Unit with a capacity of 3 MTPA will be developed in the Bengaluru Rural district with an estimated investment of Rs 850 crores. The second proposed unit is expected to create 250 direct job opportunities, with operations beginning in 2028.
Furthermore, Shree Cement proposes establishing an Integrated Cement Plant with a clinker capacity of 3.5 MTPA and a cement capacity of 6 MTPA (in two phases) in the Kalaburagi district. This project entails a proposed investment of Rs 5,000 crore and is expected to create 750 direct employment opportunities. The plant is slated for completion by 2030 and aligns with Shree Cement's vision of sustainable growth and operational excellence.
