New Delhi, June 06: Shree Cement today said it has entered into a memorandum of understanding with the Karnataka government to invest Rs 2,000 for setting up a cement unit and a power plant.
The company will invest Rs 1,500 on a cement manufacturing unit with an annual capacity of three million tonnes and the remaining Rs 500 crore on operationalising a 100 megawatt power plant, Shree cement said in a statement.
“We are delighted with this development and with the signing of this MoU, we would be able to capture more opportunities in one of the fastest-growing markets in the country,” Shree Cement Managing Director H M Bangur said.
The company, however, did not disclose the time for the completion of the two projects.
–Agencies