JSW Cement plans to start two greenfield grinding units each in West Bengal and Tamil Nadu, India, with potential locations currently being identified.
Anil Kumar Pillai, JSW Cement Director and CEO, told the Deccan Herald that each project will involve an investment of between INR350-400 crore. Funds will be raised via internal accrual and loans from banks.
For the Tamil Nadu plant, the company has identified possible sites at Tuticorin and the Puducherry. Meanwhile, it continues scouting for land to house the West Bengal facility.
The JSW Group company has plants in Vijayanagar and Bellari (Karnataka), Dolvi (Maharashtra), and Nandyal (Andhra Pradesh). In the last fiscal, the company produced 3.2Mt of cement and has set a target of 4.2Mt for the fiscal in hand. Mr Pillai told the daily newspaper: "We are expecting to achieve 65 per cent capacity utilisation once growth momentum gains in the third and fourth quarter."