Shree Cement rallies ~3% on commencement of trial run of Clinkerisation Unit at Raipur

17 Mar 2022 , 11:07 AM

Shree Cement stock zooms near 3% after the company has commenced trial run of its new Clinkerisation Unit (Kiln -3) at Baloda Bazar, near Raipur in Chhattisgarh.

This clinkerisation unit shall augment Company’s clinker supply to its various grinding units in Eastern region. The Company has also set up Waste Heat Recovery Power unit alongside the kiln, which will produce green power and help meet Company’s power requirement.

This brownfield investment in Kiln-3 at Raipur will generate employment and revenue generation opportunities and contribute to the overall growth and development of the State. Company has funded the entire investment from its internal accruals.

Speaking on the occasion, H.M. Bangur, Managing Director of the Company, said, “Shree Cement is committed to continuous growth of the Company and value creation for its stakeholders. Cement is an important material for infrastructure and Kiln-3 supplies will aid the infrastructure development”.

Shree Cement is the third largest cement group in India with total cement capacity of 46.40 MTPA. Company is having the world’s largest waste heat recovery power generation capacity, excluding China.

At around 11:08 AM, Shree Cement was trading at Rs24,239.50 apiece up by Rs655.25 or 2.78% on Sensex.