Shree Cement inks Rs. 8,350 crore MoU with Govt. of Karnataka aimed to boost industrial growth and create employment in the state
Shree Cement Limited today signed a Memorandum of Understanding (MoU) worth ₹8,350 crore with the Government of Karnataka, committing to invest in the state over the next five years. As part of the MoU, Shree Cement plans to establish state-of-the-art cement manufacturing facilities, generating significant employment opportunities and contributing to Karnataka’s industrial growth and development.
On the occasion of the Global Investors Meet 2025 in Bengaluru, the MoU was signed between Shri Siddaramaia, Hon’ble Chief Minister of Karnataka and Shri Neeraj Akhoury, Managing Director Shree Cement, marking a major milestone in the state’s industrial growth journey. The investment will be directed towards three key projects, enhancing Karnataka’s cement manufacturing capacity.
The MoU between Shree Cement and the Government of Karnataka includes the establishment of an Integrated Cement Plant in Kalaburagi, featuring a clinker capacity of 3.5 MTPA and a cement capacity of 3 MTPA. With an investment of ₹2,500 crore, the plant is expected to create approximately 300 direct jobs and commence operations by 2025. Additionally, a Clinker Grinding Unit with capacity of 3 MTPA will be developed in Bengaluru Rural district with an estimated investment of ₹850 crores. The second proposed unit is expected to create 250 direct job opportunities, with operations scheduled to begin in 2028.
Further, as part of this MoU, Shree Cement also proposes to establish an Integrated Cement Plant with a clinker capacity of 3.5 MTPA and cement capacity of 6 MTPA (in two phases) at Kalaburagi district. This project entails a proposed investment of ₹5,000 crore and is expected to create 750 direct employment opportunities. The plant is slated for completion by 2030 and aligns with Shree Cement’s vision of sustainable growth and operational excellence.
Commenting on the partnership, Shri Neeraj Akhoury, Managing Director, Shree Cement Limited, said, “Karnataka is a key state for us, and the investment of Rs. 8350 crore reflects our commitment to contributing to its economic growth. We are grateful to the Government of Karnataka for their support and look forward to building a sustainable and impactful presence in the region.”
The projects will not only strengthen Shree Cement’s presence in South India but also support Karnataka’s vision of becoming a hub for industrial and infrastructural growth. The Government of Karnataka has assured its full support in facilitating necessary permissions, registrations, approvals and clearances for the timely execution of these projects.
Shree Cement Limited remains committed to sustainable development and will incorporate advanced technologies to ensure environmentally friendly operations.
About Shree Cement Limited
One of the leading cement groups in India, Shree Cement Limited (‘SCL’) (BSE: 500387/ NSE: SHREECEM) is known for its industry-leading green credentials, cutting-edge innovative practices and cost leadership. It follows ‘highest standards of Corporate Governance and has a long history of enjoying stakeholders’ trust. Shree Cement is known for its high-quality products which are manufactured at advance manufacturing facilities across India and UAE. It is determined to deliver the most sustainable building material solutions to its consumers. The company is relentlessly pursuing its goal of having more than 80 million tonnes of production capacity in the coming years.
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