The company proposes additional capacity up to 12,000 Tons Per Day (TPD) in the unit.
An investment of approximately Rs1,000cr will be needed for the unit. The company plans to finance the unit through internal accruals and debt.
Shree Cement expects to complete the project by the quarter ending September 2022.
The company said, existing cement capacity of the Company is 40.40 Million Ton Per Annum (MTPA). During the year 2019-20, the utilization rate was 64%.
On Sensex, Shree Cement stock ended at Rs19832.75 per piece up 1.49%.