JSW Cement invests US$360m in new plant

JSW Cement invests US$360m in new plant
21 May 2024

JSW Cement is planning to build a new cement plant in Rajasthan, giving the company access to India’s northern markets. The proposed facility will have a cement capacity of up to 3.3Mta and an 18MW power plant, according to Mint. The INR30,000m (US$360m) investment is being funded through a mix of equity and long-term debt. 

“The proposed investment to establish our integrated cement facility in Nagaur puts JSW Cement firmly on its path to achieving a pan-India footprint within the next few years," Parth Jindal, managing director, JSW Cement, said in a statement. The new facility will include an overland belt conveyor stretching about 7km to transport limestone from the mines to the manufacturing plant as well as facilities to enable the use of alternative fuels in the kiln.

“This investment will mark our entry into the fast-growing cement markets of North India. These states have one of the highest GDP growth rates and are witnessing significant infrastructure and housing development,” added Nilesh Narwekar, CEO of JSW Cement.

JSW’s cement production capacity currently stands at 21Mta but the company hopes to increase this to 60Mta over the next five years, requiring an investment of INR180,000m. 

Published under Cement News