“The proposed investment will be funded through a mix of equity and long-term debt,” the company said.
| Photo Credit: Reuters
JSW Cement on May 21 said it plans to invest around ₹3,000 crore to set up a cement manufacturing facility in Nagaur district of Rajasthan.
The greenfield, integrated facility will be funded by a mix of debt and equity, the company said.
The investment in the new facility includes a clinkerization unit of up to 3.30 MTPA (million tonnes per annum) and a grinding unit of up to 2.50 MTPA, said a statement from JSW Cement, a part of $24.25-billion JSW Group.
The new plant will also have an 18 MW waste heat recovery-based power generation system, it added.
“The proposed investment will be funded through a mix of equity and long-term debt,” it said.
This new plant is also expected to create more than 1,000 direct and indirect job opportunities, JSW Cement said.
The investment also includes around 7-km overland belt conveyor to transport limestone from mines to the manufacturing plant and arrangements to use alternative fuel in the kiln.
JSW Cement managing director Parth Jindal said it is one of the most significant investments, which the company is making in Rajasthan.
“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,” he said.
JSW Cement, which has a manufacturing capacity of 19 MT annually, aims to achieve the capacity of 60 MTPA.
It currently has manufacturing units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra.
Besides, JSW Cement through its subsidiary Shiva Cement operates a clinker unit in Odisha.
JSW Cement is part of the diversified JSW Group, which has business interests in sectors such as steel, energy, maritime infrastructure, defence, B2B e-commerce, realty, paints, sports and venture capital.