Displaying items by tag: Shree Cement

India: Shree Cement has ventured into the ready-mix concrete (RMC) sector by acquiring five plants in Mumbai from StarCrete. The company disclosed the purchase on 12 March 2024, with the plants having a combined capacity of 422m³/hr. The deal, valued at US$4.04m, marks a strategic expansion for Shree Cement.

Neeraj Akhoury, Managing Director of Shree Cement, said “The strategic foray into the RMC segment is a step ahead in our vision to become a multi-product company centred around a core cement business. The RMC segment is expected to witness healthy growth, driven by government initiatives in large infrastructure projects and a booming housing construction sector.”

India: Shree Cement plans to set up a ready-mix concrete network in its resident Indian market. The network will consist of five ready-mix batching plants. The Business Standard newspaper has reported that the cement company expects to commission the new concrete capacity before the end of the current financial year on 31 March 2024.