Shree Cement inks Rs.8,350 crore MoU with Govt. of Karnataka

Bengaluru: Shree Cement Limited has signed a Memorandum of Understanding (MoU) with the Government of Karnataka, worth ₹8,350 crore, to invest in the state over the next five years. This partnership aims to boost industrial growth, create employment opportunities, and contribute to Karnataka’s development.

The investment will be directed towards three key projects, including:

• Integrated Cement Plant in Kalaburagi: With an investment of ₹2,500 crore, this plant will have a clinker capacity of 3.5 MTPA and a cement capacity of 3 MTPA, creating approximately 300 direct jobs and commencing operations by 2025.
• Clinker Grinding Unit in Bengaluru Rural: This unit will have a capacity of 3 MTPA, with an estimated investment of ₹850 crore, creating 250 direct job opportunities and starting operations in 2028.
• Integrated Cement Plant in Kalaburagi (Phase 2): With a proposed investment of ₹5,000 crore, this plant will have a clinker capacity of 3.5 MTPA and a cement capacity of 6 MTPA, creating 750 direct employment opportunities and completing by 2030.

Shree Cement’s Managing Director, Neeraj Akhoury, stated that Karnataka is a key state for the company, and this investment reflects their commitment to contributing to its economic growth.