Kolkata: Shree Cement Ltd on Monday said its board had approved a plan to build a 3 million tonne plant in Karnataka at a cost of Rs1,800 crore.
The proposed plant is expected to be ready by the quarter ending 31 December 2018, the company said in a regulatory filing.
The project is to be funded by internal accruals.
Shree Cement’s board also approved on Monday the payment of a special dividend of Rs100 per share.
The company’s shares fell 1.3% to Rs15,677.30 on BSE in a flat market.