Construction Industry News
JSW Cement, part of $24.25 billion JSW Group, plans to invest around Rs 3,000 crore to establish a greenfield, integrated cement manufacturing facility in Nagaur district of Rajasthan. The ground-breaking ceremony was held recently to commence the construction of the cement factory. JSW Cement’s investment in the new cement facility includes a clinkerization unit of up to 3.30 mtpa and a grinding unit of up to 2.50 mtpa, along with an 18 MW waste heat recovery based power plant. The investment also includes an approx. 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. The proposed investment will be funded through a mix of equity and long-term debt.
JSW Cement 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 attractive North India cement market. The current investment is expected to create more than 1,000 direct & indirect job opportunities.
Parth Jindal, MD, JSW Cement, said, “This is one of the most significant investments we are making in Rajasthan through our cement business. I look forward to working with the Rajasthan State Government to contribute to the economic development of the State while continuing to create substantial employment opportunities in the region. The proposed investment to establish our integrated cement facility in Nagaur puts JSW Cement firmly on its path to achieving a pan-India footprint within the next few years. 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.”
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.”
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