A delegation of Shree Cement led by its MD H.M. Bangur and JMD Prasanth Bangur called on Chief Minister Y.S. Jagan Mohan Reddy on Monday and held discussions on setting up a greenfield cement plant at Pedagarlapadu village in Dachepalli mandal of Guntur district with an estimated investment of ₹1,500 crore.
During the meeting at the camp office near here on Monday, Mr. Jagan Mohan Reddy said Andhra Pradesh is the best destination for investments and also explained about the incentives being given to the industries sector in the State.
Shree Cement has cement manufacturing and allied sector plants in nine States and will be setting up its first plant in Andhra Pradesh. It has been planned to complete the project in 24 months.
Mr. Bangur said Mr. Jagan Mohan Reddy had been working wholeheartedly for the development of the State, like the CEO of a company. He said the Chief Minister desired to see people develop and earn more and wanted industrialisation and income generation in the State. He said they were setting up the cement plant in the State as its growth rate is higher than the national average and it would improve further in the future due to the vision of the Chief Minister.
Mr. Prasanth Bangur said setting up a big cement plant would provide employment to many people directly and indirectly and contribute to the development of the area.
MP P.V. Mithun Reddy, Shree Cement president ( Commercial) Sanjay Mehta, GM G.V.N. Sridhar Raju, manager Venkat Ramana and assistant manager Simhadri Rajashekar were present in the meeting.
