Cement News tagged under: JSW Cement

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SBI acquires minority stake in JSW Cement

21 December 2021, Published under Cement News

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...

No stopping India's cement capacity rise

20 August 2021, Published under Cement News

India is the second-largest cement market in the world with an increasing population and high development needs. Consequently, the prospects for long-term cement demand growth are good. While many cement companies have delayed investment plans due to the ongoing pandemic, in India there is a surge of activity for CAPEX projects. The Cement Manufacturing Association (CMA) currently estimates that India has an installed cement capacity of 545Mta. A report by Crisil Ratings claims that as mu...

JSW Cement partners with new investors to accelerate growth

29 July 2021, Published under Cement News

India-based JSW Cement has entered into definitive agreements to raise up to INR15.000bn (US$201.2m) from two global private equity investors, Apollo Global Management Inc (through its managed funds) and Synergy Metals Investments Holding Ltd.     The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being issued to the investors and the conversion of such CCPS into common equity of the company will be linked to the company’s ...

JSW Cement to sets its sights on IPO and green cement leadership

16 July 2021, Published under Cement News

This week, we look at JSW Cement's plans for the future as it attracts interest from investors, intends to expand its domestic cement capacity and make an entry into India's ready-mix sector. JSW Cement is positioning itself closer to being listed on the bourses as preparations continue to move towards an initial public offering (IPO). It is now starting to dilute minority private equity stakes in the company to a selection of investors.  JSW Cement is estimated to be worth in the regi...

JSW Concrete is established in Mumbai with its first unit

22 June 2021, Published under Cement News

JSW Cement, a part of US$12bnn JSW Group, has announced its entry into ready-mix concrete   business under the brand name 'JSW Concrete'. It has set up its first production unit in Chembur, Mumbai, and has plans to expand the business to other locations.   "The RMC business foray follows the green products ethos of JSW Cement and will launch unique eco-friendly concrete for use in various commercial construction projects," the company statement said. JSW Cement is now aiming to o...

JSW Group links steel and cement for large project businesses

08 June 2021, Published under Cement News

Following the successful integration of its retail trade across steel and cement into JSW One in the east, the US$12bn JSW Group and India's largest steel producer will now have a single group interface for all its large project divisions in the steel and cement businesses.  The Indian conglomerate has created Aikyam, a technology platform where details can be accessed by the managers of large project divisions from both these businesses to capitalise on the potential opportunities. Aikya...

Shiva Cement receives approval for 1.32Mta project

07 January 2021, Published under Cement News

India’s Shiva Cement (JSW Cement) has now received approval from the state government of Odisha to add 1.32Mta of clinker capacity and 1.05Mta of cement production capacity in the form of a new facility in the Sundargarh district. The project, worth INR15.23bn (US$207.88m), received clearance during a High-Level Clearance Authority (HLCA) meeting on Wednesday.

JSW Cement delays IPO plans

25 November 2020, Published under Cement News

India’s JSW Cement has pushed back its plans for an initial public offering (IPO) to December 2022, as a result of the slowdown and disruption caused by COVID-19. The company had already generated a plan to expand its combined cement capacity to 25Mta by 2023 at an investment of INR36bn (US$486.86m). "In 2019, the sector had degrowth, in 2020 COVID hit us. Now December 2022 is a logical timeline for us for the IPO," said Parth Jindal, managing director.

Odisha clears two cement capacity expansion projects

03 September 2020, Published under Cement News

India’s Odisha state government has cleared two proposals for the expansion of cement grinding capacities. It gave the go-ahead for JSW Cement’s 1.2Mta expansion and Jajpur Cement’s Pvt Ltd 1Mta expansion project – both are located in Kalinganagar in Jajpur. JSW will invest INR4.899bn (US$66.7m) while Jajpur Cements has allocated INR4bn for the project.

JSW Group reportedly set to reduce imports from China

02 July 2020, Published under Cement News

Parth Jindal, managing director of JSW Cement, has announced on social media that JSW Group plans to reduce its net imports from China. "The JSW Group have a net import of US$400m from China annually and we pledge to bring this down to zero in the next 24 months," said Mr Jindal. In the comment, Mr Jindal referred to the clash on the border of both countries, which took place earlier in June. JSW Cement currently imports clinker from China to supply its grinding operations.