SBI acquires minority stake in JSW Cement

The State Bank of India (SBI) has acquired a minority stake in JSW Cement Ltd at an investment of INR1bn (US$13.23m).

The capital is expected to support the company’s capacity expansion plans from 14Mta to 25Mta.

"In a short span of three years, we have increased our capacity from 6Mta to 14Mta and are now working towards achieving the 25Mta milestone over the next 24 months. We take great pride in being the recipient of one of SBI's larger investments through the private equity route. I take this opportunity to welcome SBI as a strategic investor at JSW Cement and look forward to a long and fruitful association with them,” said Parth Jindal, managing director.