Shree Cement has ventured into the ready mix concrete (RMC) segment with the inauguration of its first greenfield project in Hyderabad. The plant, with a capacity of 90 cubic metres per hour, aims to position the Bangur family-promoted company as a diversified player in the cement industry, according to a statement released by the firm.
Managing Director Neeraj Akhoury expressed that the move into the RMC segment represents Shree Cement's foray into a new line of business. He cited the promising prospects of the RMC sector, driven by India's economic growth, governmental infrastructure initiatives, and increased activity in the housing sector. Akhoury affirmed the company's commitment to expanding its presence in the market through both organic growth and strategic acquisitions.
Additionally, Shree Cement recently acquired five operational plants of StarCrete LLP in Mumbai, further bolstering its RMC capacity. With this acquisition, the company's combined RMC capacity now stands at 512 cubic metres per hour. Shree Cement, operating under the brand name Bangur, currently boasts an installed capacity of 46.9 million tonnes annually in India.