JSW Cement To Invest Rs 3,200 Crore To Set Up 5 MTPA Capacity In Central India


JSW Cement Ltd. plans to invest more than Rs 3,200 crore to set up two greenfield cement manufacturing plants in Central India.

The facilities, which will come up in Madhya Pradesh and Uttar Pradesh, will have a total production capacity of five million tonnes per annum, according to a company statement.

The proposed investment will be for an integrated cement plant with 2.5 mtpa clinker capacity, 2.5 mtpa grinding capacity, 15 megawatt waste-heat recovery system, and a residential colony in Madhya Pradesh. A 2.5 mtpa grinding unit will come up in Uttar Pradesh.

On Monday, India Cements Ltd. announced that it is selling its entire stake in Springway Mining Pvt. Ltd. to JSW Cement for a total consideration of Rs 476.87 crore. SMPL owns 500 acres of limestone-bearing land in the Panna district of Madhya Pradesh and is in the process of setting up a cement plant in the state’s Damoh district.

“This acquisition provides JSW Cement access to limestone reserves of 106 million tonnes, including a mining lease valid until 2065,” JSW Cement said on Tuesday. “JSW Cement’s integrated manufacturing facility will be located adjacent to this mining reserve.”

According to JSW Cement Managing Director Parth Jindal, the acquisition of SMPL puts the company on the path to achieve 50 mtpa manufacturing capacity with a pan-India footprint.

“This strategic investment marks our entry into the highly attractive Central Indian market with specific focus on servicing the needs of customers in Madhya Pradesh and Uttar Pradesh. This is one of the biggest investments in India made through our cement business,” he said.

JSW Cement, at present, has a manufacturing capacity of 17 mtpa and is expected to achieve 21 mtpa capacity by the end of fiscal 2023.


Source link

What is your reaction?

In Love
Not Sure

You may also like

Comments are closed.

More in:Business