JSW Cement will make a strong entry in North Indian markets, announced investment of Rs 3,000 crore
JSW Group company JSW Cement has started preparations for vigorous entry into the North Indian markets. The company plans to invest around Rs 3,000 crore to set up a greenfield, integrated cement manufacturing facility in Nagaur district of Rajasthan. The investment by JSW Cement in the new cement facility includes a clinkerization unit of up to 3.30 MTPA and a grinding unit of up to 2.50 MTPA along with an 18 MW waste heat recovery based power plant.
Capital will be raised from equity and loan
A 7 km long overland belt conveyor to transport limestone from the mine to the manufacturing plant and a system to use alternative fuels in the furnace are also part of this investment. This amount for the proposed investment will be raised through equity and long-term debt. SW Cement has already received certain regulatory and statutory approvals and is on track to obtain other necessary approvals. Once operational, this unit will mark the entry of JSW Cement into the important cement market of North India. The current investment is expected to create over 1,000 direct and indirect employment opportunities.
North India market is growing rapidly
According to Parth Jindal, Managing Director, JSW Cement, ?This investment is one of the most significant investments we are making in Rajasthan through our cement business. We look forward to working with the Government of Rajasthan to create ample employment opportunities in this sector as well as contribute to the economic development of the state. The new capacity in this area will enable us to meet the abundant needs of our customers in the northern states of Rajasthan, Haryana, Punjab and the NCR region. JSW Cement CEO Nilesh Narvekar said this investment will mark our entry into the fast growing and attractive cement markets of North India. These states have the highest GDP growth rates and are seeing significant growth in infrastructure and house construction.
