VIJAYAWADA: Shree Cement managing director HM Bangur and Joint MD Prashant Bangur along with a delegation called on Chief Minister YS Jagan Mohan Reddy in the latter’s camp office at Tadepalli on Monday and expressed willingness to set up a greenfield cement factory in Guntur district with an outlay of Rs 1,500 crore. Bangur promised to complete the project in two years. The firm has cement manufacturing and allied sector plants in nine States and this will be its first plant in Andhra Pradesh.
Discussions were held on setting up the cement plant at Pedagarlapadu village in Dachepalli mandal of Guntur district.
The Chief Minister said Andhra Pradesh is the best destination for investments and explained the incentives being given to the Industries sector in the state. Speaking on the occasion, the Shree Cement MD said the Chief Minister has been working wholeheartedly to improve the position of the state. The Chief Minister was working like a Chief Executive Officer (CEO) of a company, he observed.
He said that they were planning to set up the cement plant in AP as the growth rate of the state is higher than the national growth rate and it will improve more. JMD Prasanth Bangur said setting up a big cement plant would provide employment to many people directly and indirectly, thereby ensuring the development of the area.