JSW Cement to invest Rs 3,000 cr to establish new integrated cement facility in Rajasthan
Mumbai: JSW Cement announced on Tuesday that it will invest nearly Rs 3,000 crore for a new cement manufacturing plant in the Nagaur district of Rajasthan.
This investment includes setting up a clinkerisation unit with a capacity of up to 3.30 million tonnes per annum (MTPA), a grinding unit with a capacity of up to 2.50 MTPA, and an 18-megawatt (MW) waste heat recovery-based power plant.
The funding for this greenfield and integrated facility will come from a mix of equity and long-term debt.
JSW Cement has already received some regulatory and statutory approvals and is in the process of obtaining additional clearances.
This new unit will mark JSW Cement's entry into the North India cement market and is expected to generate over 1,000 direct and indirect jobs, according to the company's press statement.
On Tuesday, JSW Cement revealed plans to invest approximately Rs 3,000 crore in setting up a new cement manufacturing facility in Rajasthan's Nagaur district.
The project will encompass the construction of a clinkerisation unit with a capacity of up to 3.30 million tonnes per annum (MTPA), a grinding unit capable of handling up to 2.50 MTPA, and an 18 megawatt (MW) power plant that utilizes waste heat recovery.
The proposed investment for this greenfield and integrated facility will be funded through a combination of equity and long-term debt. JSW Cement has already received some regulatory and statutory approvals and is in the process of obtaining additional clearances.
This new unit will mark the company's entry into the North India cement market and is expected to create over 1,000 direct and indirect jobs, according to a company press statement.
“This is one of the most significant investments we are making in Rajasthan through our cement business. It puts JSW Cement firmly on its path to achieving a pan-India footprint within the next few years. This will enable us to service the prolific needs of our customers in the northern states of Rajasthan, Haryana, Punjab, and the NCR (National Capital Region),” said Parth Jindal, managing director of JSW Cement.
About the North India market, Nilesh Narwekar, chief executive officer of JSW Cement, said, “These states have one of the highest GDP growth rates and are witnessing significant infrastructure and housing development. We are very excited to be able to enter this booming construction market.”
In August, the company revealed its intentions to ramp up capacity from 19 MTPA to 60 MTPA within a span of five years. Furthermore, it outlined its strategy to conduct an initial public offering (IPO) in 2024, with the proceeds earmarked to finance the envisioned expansion.
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