Rajasthan-based Shree Cement Ltd has decided to invest Rs 1,200 crore in the current financial year to expand its production capacity, including setting up two greenfield plants and installing four captive power plants.

According to company officials, the investments would be made in two grinding units in Rajasthan and Uttaranchal, and two power plants of 50MW each at Bangur city.

Apart from this, the expansion plan also includes a waste heat recovery project christened "Green power projects" which is scheduled to complete by the fourth quarter of 2009-10. On commencement of plant, the facility will generate green power of 43MW.

Last month, Shree Cement commissioned its clinker manufacturing unit of one million tonne at Bangur City, in the Pali district of Rajasthan.