Construction Industry News
JSW Cement plans to invest more than Rs 3,200 crore to set up an integrated greenfield cement production facility in Madhya Pradesh and a split grinding unit in Uttar Pradesh. The combined cement capacity of these units will be 5 million tons per year (mtpa).
The announcement comes a day after the company raised the Madhya Pradesh unit of India Cements for Rs 477 crore.
This will give JSW Cement access to limestone reserves of about 106 million tons, including a mine lease that is valid until 2065. The limestone mine is spread over about 500 hectares in the Panna district of Madhya Pradesh, it said.
The company has also obtained the most regulatory approvals for mining operations and is pursuing the required approvals to set up its integrated cement production facilities.
The integrated production facility of JSW Cement will be located adjacent to this mine reserve.
Parth Jindal, general manager of JSW Cement, said the strategic investment marks the company's entry into the central Indian market and is one of the largest investments in India made through the Group's cement business.
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