Shree Cement announced that its arm Shree Cement East Pvt. Ltd. has started trial production at its clinker grinding unit in West Bengal. The new unit has a capacity of 3 million tonnes per annum (MTPA). The total cement capacity of the Kolkata-based company, along with its subsidiary, now stands increased to 49.90 MTPA.

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In a regulatory disclosure to the stock exchange on Thursday, Shree Cement said that the trial production started in the unit located in Digha & Parbatpur village in the Purulia district of West Bengal.

Shree Cement’s Managing Director Neeraj Akhoury last month told CNBC-TV18 that the company is confident of growing 13-14 per cent this year, largely ahead of the market. With this growth, Shree Cement should be able to clock in around 35 to 36 million tonnes in the financial year 2023-24, he stated.

Last week, Shree Cements, India’s third-largest cement player, denied any tax evasion involvement. The denial came after media report reports suggested that the company is under the scanner for alleged tax evasion to the tune of Rs 23,000 crore. The alleged tax evasion, according to the reports, was said to be the biggest ever to date. The company further said that the Income Tax survey is still ongoing.

Previously, the Income Tax department conducted survey action at five locations of Shree Cement Ltd in Rajasthan.

Shares of Shree Cement ended 0.7 percent lower at Rs 23,881.