New Delhi [India], May 21 : JSW Cement, part of USD 24.25 billion JSW Group, on Tuesday unveiled it plans to invest around Rs 3,000 crore to establish a greenfield cement manufacturing facility in Nagaur district of Rajasthan.
According to a company release, the ground-breaking ceremony was held recently to commence the construction of the factory.
JSW Cement's investment in the new cement facility includes a clinkerization unit of up to 3.30 million tonne per annum and a grinding unit of up to 2.50 million tonne per annum, along with an 18 MW waste heat recovery based power plant.
The investment also includes an approximately 7 km long Overland Belt Conveyor to transport limestone from the mines to the manufacturing plant and arrangements to use alternative fuel in the kiln.
As per the company release, the proposed investment will be funded through a mix of equity and long-term debt.
JSW Cement said it has already received some of the regulatory and statutory approvals and is on track to obtain other necessary clearances. Once commissioned, this unit will mark JSW Cement's entry into the north India cement market.
The current investment is expected to create more than 1,000 direct and indirect job opportunities, it asserted.
"This is one of the most significant investments we are making in Rajasthan through our cement business...The new capacity in this region will enable us to service the prolific needs of our customers in the Northern States of Rajasthan, Haryana, Punjab and the NCR region," said Parth Jindal, Managing Director of JSW Cement.
Nilesh Narwekar, CEO of JSW Cement said, "This investment will mark our entry into the fast-growing and attractive cement markets of North India. 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 into this booming construction market and will aim to provide our customers with high quality cement and a world-class customer service."
As one of India's leading business houses, JSW Group, in addition to cement also has other business interests in sectors such as steel, energy, maritime infrastructure, defence, B2B ecommerce, realty, paints, sports and venture capital.
JSW Cement has manufacturing units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra and through its subsidiary, Shiva Cement, operates a clinker unit in Odisha.
The company is present across the entire value-chain of building materials comprising cement, GGBS, concrete and construction chemicals.
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