Shree Cement, a company promoted by the Bangur family, said that it will invest Rs 7,000 crore in capacity growth over the following phase of capacity augmentation.

According to regulatory updates from the firm, the board of Shree Cement approved "clinker & cement capacity expansion projects with a total capital expenditure of around Rs 7,000 crore" at its meeting on Wednesday.

The third-largest cement producer, Shree Cement, will invest in building a 3.65 million tonne clinker capacity in Pali, Rajasthan.

Besides, it will also invest in a cement capacity of 6 million tonnes at Pali, Rajasthan and Etah, Uttar Pradesh.

Similarly, it will also invest in two Karnataka-based units in Kodla and Bangalore.

"We are also happy to announce our next phase of capacity expansion projects of 12 million tonnes that will take the group's cement capacity to 72.4 million tonnes," it said.