The Commerce and Industry Department of the State Government signed a Memorandum of Understanding (MoU) with the Shree Cement limited at Mantralaya here on Saturday. The MoU was signed for expansion project of the company with an investment of Rs1900 crores. According to officials, the MoU was signed by the Secretary of Commerce and Industry Department Subodh Singh and Vice-President of Shree Cement limited, Ravi Tiwari.
The officers informed that the plant of Shree Cement limited is located at Semardih village in Baloda Bazar-Bhatapara district. The plant had started production of cement and clinker from January 27, 2015. The initial investment in the project was to the tune of Rs1300 crores. The project is providing direct employment to 650 people and indirect employment to 550 people.
Under the expansion project, the target is to increase the production of cement to 30 lakh tonne per year and production of clinker to 30 lakh tonne per year, officials added.