India: Shree Cement plans eastern expansion

Shree Cement Ltd is setting its sights on the eastern Indian market by establishing a grinding units in the states of Odisha and West Bengal, according to local press reports.

The company is reportedly in the process of identifying land for the two plants, each with a capacity of 2Mta.
   
"We have already started despatches in West Bengal and Odisha in a small way. We would like to capture at least three to five per cent market share in these two state over the next six months," said Shree director HM Bangur.
   
"We are searching for land in these two states, talks are on going. We would require 60-100 acres land (each) for setting grinding units with an initial capacity of 2Mta,” he said.

"North India accounts for 85 per cent of our total sales, so there is little scope to increase our market share further. We see good opportunities in the east, which will be our main focus area (along with north India market) going forward," Bangur said.
   
Clinker for the new grinding units would be sourced from Shree's recently-commissioned 2.6Mta integrated cement plant in Chhattisgarh. (Source: Cogencis EquityWire)