Billionaire Benu Gopal Bangur’s Shree Cement will be the new investor of East Bengal FC, one of the oldest football clubs in India. The company was looking at doubling its capacities in six years in its key markets — northern and eastern India. However, the company has postponed its capital expenditure plan due to the COVID-19 uncertainty. But surely, the company saw investing in East Bengal FC as the right move.
Few facts about Shree Cement and the family which runs the company
- The cement manufacturing company was founded in Beawar, Ajmer district, Rajasthan, in 1979. However, it is now headquartered in Kolkata.
- The company also produces and sells power under the name Shree Power (Captive Power Plant) and Shree Mega Power.
- The company has plants in Beawar, Ras, Khushkhera, Jobner (Jaipur) and Suratgarh in Rajasthan; Laksar (Roorkee) in Uttarakhand; Panipat in Haryana; Bulandshahar in UP; Raipur in Chhattisgarh; and Aurangabad in Bihar.
- By market capitalisation, Shree Cements is the second-largest cement company in India.
- Shree Cement is a listed company and the promoter family of the company is the Bangurs.
- 89-year-old Benu G Bangur is the chairman of the company. He was born in 1931 to a Marwari business family in Kolkata.
- Benu G Bangur inherited Shree Cement in 1992 after a family split.
- Benu Gopal Bangur net worth is around USD 645 crore. According to the Bloomberg Billionaires Index, Bangur ranks 330 in the world’s billionaires list. Forbes ranked him 19th in India’s richest list in 2019.
- The company is run by Benu Gopal’s son, Hari Mohan Bangur (managing director of the company) and grandson Prashant.