Patna, Dec 20 (PTI) Rajasthan-based Shree Cement will invest Rs 1,100 crore in Bihar to set up a cement plant and solar power project in Purnea district, its Chairman H M Bangur said on Friday.
The Bangur family-promoted company is among the top five cement producers in the country.
"We have signed an MoU with the Bihar government to invest Rs 800 crore. We will be setting up a cement plant in North-East Bihar with an annual capacity of 2 million tonnes," H M Bangur told PTI on the sidelines of Bihar Business Connect 2024.
The Memorandum of Understanding (MoU) was signed on the second day of the Bihar Business Connect 2024, a global investors summit.
"We will also be investing Rs 300 crore to set up a solar plant. We have not signed MoU for the solar power plant," Bangur said.
Both cement and solar plants will be set up in Purnea districts of Bihar, he added.
Shree Cement has an installed capacity of 46.9 Million Tonnes Per Annum in India and 50.9 including overseas.
The Rajasthan-based group has ongoing expansion projects in Jaitaran, Rajasthan (6 MTPA), Kodla, Karnataka (3 MTPA), Baloda Bazar, Chhattisgarh (3.40 MTPA), and Etah, Uttar Pradesh (3 MTPA).
Shree Cement has brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. It had a revenue of Rs 19,585.53 crore in FY'24.