From Our Special Correspondent
New Delhi, Sep 10: The Ministry of Corporate Affairs has green-lighted the incorporation of Ri Pnar Cement in Meghalaya as a wholly-owned subsidiary of Star Cement.
Accordingly, Star Cement has officially announced the establishment of Ri Pnar Cement as its subsidiary in Meghalaya, with an authorised capital of USD 11,911, divided into 1,00,000 equity shares valued at USD 0.12 each.
Star Cement, a leading player in the cement industry, has also announced its ambitious plan to expand its production capacity to 12 million tonnes per annum by the fiscal year 2027, a move aimed to capitalise on the growing demand in the construction and infrastructure sectors, particularly in Northeast India, where Star Cement has held a strong market presence for decades.
The company’s expansion strategy aligns with broader industry trends, as increasing urbanisation and infrastructure development continue to drive demand.
By ramping up its capacity, Star Cement seeks to meet the rising needs of the construction sector, which is experiencing rapid growth in the region.