Shree Cement, one of the top five cement manufacturers, is planning to enter power trading as an independent business activity. The company's total power generation capacity is set to touch 560 MW by the end of this year.
H. M. Bangur, Managing Director, said the company hoped to provide the best products and services to its customers.
A company release said that Shree Cement which has units in Rajastan has already set up a power business development group called Shree Power Trading in order to enhance its presence in the power sector value-chain. The entity has recently been granted Category I, interstate power training licence by the Central Electricity Regulatory Authority (CERC).
The 260 MW installed captive power generation capacity of Shree Cement is set to be augmented with a merchant capacity of 300 MW by end-2010.
The company has been selling its surplus power for some years now and has plans to emerge as a significant player in the power sector.
Activities would be on an all-India basis with the new entity planning to offer a bouquet of products.
40 MW power unit
It has also announced plans to set up a 40 MW ‘green power' unit utilising waste heat generated from the company's cement plants.