India is adding cement capacity on a large scale, while Europe is revamping existing lines and pursuing decarbonisation. Announcements from both sides give investment amounts and capacities, making it easy to calculate "how much investment per tonne of capacity". But whether the calculated figures can be compared depends on what type of project it is and what is included in the investment amount. This article first provides several data points for India, and then explains why the European figures cannot be directly placed on the same yardstick.

The following facts are as of 28 October 2026, with sources listed at the end of the text. Investment per tonne is calculated by this site based on announced investment amounts and capacities, with formulas written in the table; the opinion section is labelled separately.

India: Four Projects, Three Tiers of Investment Intensity

In the table below, investment per tonne = announced investment ÷ announced new annual capacity, in Indian rupees, without conversion to other currencies. 1 crore = 10 million rupees; the table gives crore figures directly.

| Project | Type | Announced investment | New annual capacity | Investment per tonne of annual capacity | Scope included in announcement | |---|---|---|---|---|---| | Shree Cement Etah (Uttar Pradesh) | Grinding station (using fly ash from adjacent power plant) | About Rs 850 crore (commissioned 2025-04-01) [Source 3] | 3 million tonnes | About Rs 2,800 | Announcement states funding from internal accruals | | UltraTech Phase IV expansion | Mix of greenfield and brownfield, multiple plants | Rs 10,255 crore (board approved 2025-10-18) [Source 1] | 22.8 million tonnes | About Rs 4,500 | Announcement states "a mix of brownfield and greenfield projects", with no breakdown by type; phased commissioning starting FY2028 | | Shree Cement Dachepalli (Andhra Pradesh) | Integrated cement plant | More than Rs 2,500 crore (commissioned 2024-04-02) [Source 2] | 3 million tonnes cement | About Rs 8,300 | Announcement states it is a new integrated plant, not specifying whether power is included | | JSW Cement Nagaur (Rajasthan) | Integrated cement plant | About Rs 3,000 crore (announced 2024-05-21, under construction) [Source 4] | 2.5 million tonnes grinding (clinker up to 3.3 million tonnes) | About Rs 12,000 (calculated on grinding capacity) | Includes clinker line, grinding, 18 MW waste heat recovery (WHR), and an approx. 7 km long limestone conveyor belt |

Calculation formulas: Etah 850 ÷ 3 million tonnes; UltraTech 10,255 ÷ 22.8 million tonnes; Dachepalli 2,500 ÷ 3 million tonnes; Nagaur 3,000 ÷ 2.5 million tonnes. All are crore figures converted to rupees and divided by tonnes. Dachepalli's announcement states "more than 2,500", so 8,300 is a lower bound.