Shree Cements signs deal acquiring five ready-mix cement plant in Mumbai

A prominent brand of cement manufacturing Shree Cement has locked the deal of purchasing an agreement with StarCrete LLP to acquire five operational ready-mix cement (RMC) plants in Mumbai Metropolitan Region. These RMC plants have an aggregate capacity of 422 CUM/hour and have been acquired at an aggregate consideration of Rs. 33.50 crore.

The managing director of the company, Neeraj Akhoury stated,"RMC offers an exciting opportunity as the segment is expected to clock healthy growth future driven by government push for large infrastructure projects and a  boom in housing construction." 

By setting a target to establish a presence in the greenfield RMC business by the end of March 2024, the company is demonstrating its commitment to achieving its growth objectives within a specific timeframe. This ambitious goal reflects the company's confidence in its ability to successfully penetrate and thrive in the RMC industry.

The company's strategic move to enter the RMC industry through the acquisition of assets and the establishment of new plants is part of its long-term growth strategy. By expanding into the greenfield RMC business, the company aims to capitalize on the growing demand for ready-mix concrete in the construction industry.

Overall, the company's foray into the RMC industry represents a significant milestone in its journey towards becoming a key player in the construction materials sector. With a clear vision and strategic plan in place, the company is poised to capitalize on the opportunities presented by the growing demand for ready-mix concrete in the market.