Shree Cement to Enter RMC Business, Acquires Five Plants from StarCrete for Rs 33.50 Cr
Shree Cement Limited has finalized a deal with StarCrete LLP to purchase five operational RMC (ready mix concrete) plants for Rs 33.50 crore. This move marks Shree Cement’s entry into the RMC business, as stated in their recent announcement.
These RMC plants are strategically located, allowing Shree Cement to participate in key construction projects in the Mumbai metropolitan region (MMR), thereby enhancing its RMC business growth.
Furthermore, Shree Cement is actively working on establishing new RMC plants at various locations. By March 2024, the company aims to establish greenfield RMC plants as part of its expansion plans in the RMC business.
Neeraj Akhoury, Managing Director of Shree Cement Ltd, highlighted the significance of this move, emphasizing that it aligns with the company’s vision to diversify into multiple product segments while maintaining a focus on its core cement business.
The RMC sector presents promising opportunities, driven by government initiatives supporting large infrastructure projects and the flourishing housing construction industry.
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