Rajasthan-based Shree Cement will invest Rs 800 crore in Bihar to set up a cement plant, its Chairman and Managing Director H M Bangur said on Friday.
The Bangur family-promoted company is among the top five cement producers in the country.
"We have signed an MoU with the Bihar government to invest Rs 800 crore. We will be setting up a cement plant in North-East Bihar with an annual capacity of 2 million tonnes," H M Bangur told PTI on the sidelines of Bihar Business Connect 2024.
The Memorandum of Understanding (MoU) was signed on the second day of the Bihar Business Connect 2024, a global investors summit.
Shree Cement has an installed capacity of 46.9 Million Tonnes Per Annum in India and 50.9 including overseas.
The Rajasthan-based group has ongoing expansion projects in Jaitaran, Rajasthan (6 MTPA), Kodla, Karnataka (3 MTPA), Baloda Bazar, Chhattisgarh (3.40 MTPA), and Etah, Uttar Pradesh (3 MTPA).
Shree Cement has brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. It had a revenue of Rs 19,585.53 crore in FY'24.
Construction engineering company Ashoka Buildcon plans to invest Rs 9,000 crore in setting up a green hydrogen plant in Bihar, its COO-Renewable Energy Mayank Sharma said Friday.
The company signed a memorandum of understanding with the state government, committing to investing in the plant, during the Bihar Business Connect 2024.
The Maharashtra-based firm is in highway construction, power distribution and solar projects.
Sharma said the company will set up a 1,250 MW solar project and use the clean electricity to produce green hydrogen by splitting water.
"The first phase of the plant is being planned at Begusarai (in Bihar)," he said.
Green hydrogen is the cleanest known source of energy, which produces just water from being burnt.
Sharma said the first phase of the project will take 1.5-2 years to commission from the date of receiving all clearances.
The second phase will follow thereafter.
According to the latest presentation on the company website, Ashoka Buildcon had an order book of Rs 11,697 crore as of March 31, 2024. Of this, the roads and railway project is Rs 6,214 crore, which is 53 per cent of the total order book. Power T&D is to the tune of Rs 4,796 crore.
Major orders with the company include Rs 662.55 crore (won in JV) from City & Industrial Development Corporation of Maharashtra Limited (CIDCO) for constructing Link Road to Navi Mumbai International Airport (NMIA). It completed a 150 MW solar power plant project for client NTPC in Rajasthan.
