Cement News tagged under: JSW Cement

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JSW Cement reveals IPO plans to fund expansion

04 September 2023, Published under Cement News

JSW Cement is planning to launch an initial public offering (IPO) in 2024 to raise INR40,000m (US$483.8m) to fund its ongoing expansion plans, reports Live Mint.   “In 2024, we are planning to take this company public, for which we will be filing the DRHP (draft red herring prospectus) in the next six months. We will be timing the market listing after the national elections,” confirmed Parth Jindal, managing director, JSW Cement.   According to the company, it hopes to raise I...

JSW Cement announces key milestones

01 September 2023, Published under Cement News

JSW Cement has announced a number of milestones that underscore the company’s commitment to innovation, sustainability and expansion.   Shiva Cement , a subsidiary of JSW Cement, has successfully commissioned its waste heat recovery systems, not only enhancing operational efficiency but also contributing significantly to the reduction of carbon emissions. “The utilisation of waste heat to generate energy aligns with the company’s commitment to sustainability and minimising its envi...

India's CMA appoints new president

19 July 2023, Published under Cement News

India’s Cement Manufacturers’ Association (CMA) has appointed Neeraj Akhoury, managing director at Shree Cement Ltd , as its new president, and Parth Jindal, managing director of JSW Cement Ltd , as its vice-president. Mr Akhoury brings with him more than 30 years of experience in the steel and cement industries, having worked in various leadership roles in India and other emerging markets. "As a future direction, the Indian cement industry would like to reiterate its commitment to bein...

Shiva Cement inaugurates Sundergarh mill

19 June 2023, Published under Cement News

India-based Shiva Cement , part of JSW Cement , has inaugurated its new cement plant in Sundergarh, Odisha. The new plant has an overall capacity of 1.05Mta as well as an additional 0.27Mta of cement capacity. Parent company, JSW Cement, announced plans to increase its installed capacity to 25Mta, up 47 per cent, in October 2022.

Sustainability-linked loans gain momentum in the cement industry

16 June 2023, Published under Cement News

This week JSW Cement announced that it was signing a new loan agreement that would be sustainability-linked to raise US$50m in debt capital to help achieve its 50Mta production capacity goal. While this is not JSW Cement's first such loan, ICR looks at the growing trend for committing to sustainability loans in the cement sector, and what they really offer for the environment and shareholders.  Sustainability-linked bonds (SLBs) and sustainability-linked loans (SLL) have become increasing...

JSW Cement secures SLL funding for capacity expansion

12 June 2023, Published under Cement News

JSW Cement has signed a Sustainability Linked Loan (SLL) agreement with BNP Paribas Singapore for INR4140m (US$50m). According to BusinessLine, the cement producer has raised a total of INR8000m in SLL-based funding in two tranches, the first being through MUFG Bank in October last year. The funding is being used to expand capacity in line with JSW's plans to boost production capacity to 50Mta in India.  Parth Jindal, managing director of JSW Cement, said that the company has grown prod...

Shiva Cement's income tumbles as expansion plans continue

18 May 2023, Published under Cement News

Shiva Cement Ltd , part of JSW Cement , has reported total income of INR34.74m (US$421,582) in the year ended 31 March 2023, compared to INR72.7m in the previous year. Finance costs advanced from INR87.93m in the year ended 31 March 2022 to INR128.53m a year later, while depreciation and amortisation expenses jumped from INR70.56m to INR589.86m over the same period, the latter of which is linked to the company’s current expansion plans. This resulted in a loss after tax of -INR804.7m in th...

India builds first cement concrete steel slag road

08 March 2023, Published under Cement News

India’s first cement concrete steel slag road is currently under construction on National Highway 66, around 50km outside Mumbai. The 1km stretch of road, which is located near JSW Cement ’s plant in Dolvi , Maharashtra, is being built using steel slag along with cement slag, according to India Today. The Central Road Research Institute (CRRI) and the Council of Scientific & Industrial Research (CSIR), two of the bodies behind the project, say that 200kg of steel slag is generated for ...

UAE climate change ministry signs AF deal with cement companies

14 October 2022, Published under Cement News

The UAE Ministry of Climate Change and Environment and Emirates RDF have signed Memoranda of Understanding (MoUs) with four cement companies – Fujairah Cement Industries , JSW Cement , Lafarge Emirates Cement and Star Cement – that will enable the cement producers to use alternative fuel (AF)  generated from municipal solid waste (MSW) treated by Emirates RDF. A joint venture between Besix, Griffin Refineries and Tech Group Eco, Emirates RDF operates a plant in Umm Al Qaiwain, the fi...

JSW Cement announces 5Mta of new capacity

12 October 2022, Published under Cement News

Just hours after acquiring a 100 per cent stake in Springway Mining from India Cements , JSW Cement has announced plans to invest over INR32,000m (US$388.8m) in an integrated greenfield plant in Madhya Pradesh and a split grinding unit in Uttar Pradesh. According to The Hindu Business Line, the combined cement production capacity of the two units will be 5Mta. The plant in Madhya Pradesh will have a 2.5Mta clinker capacity, 2.5Mta grinding capacity, and a 15MW waste heat recovery syste...