21 May , 2024 By : Debdeep Gupta
JSW Cement plans to invest around Rs 3,000 crore to set up a greenfield, integrated manufacturing facility in the Nagaur district of Rajasthan, the JSW Group-owned company said on May 21.
The investment would be funded through a combination of equity and long-term debt, the company said.
Indian cement makers are bullish on the demand environment amid increased government spending on infrastructure, rural development, and expansion of the housing sector.
A war for market share has seen bigger players snap up smaller rivals. Companies are also looking at “debottlenecking” facilities to improve capacity.
JSW Cement's new facility will include a clinkerisation unit of up to 3.30 million tonnes per annum (MTPA) and a grinding unit of up to 2.50 MTPA, along with an 18 megawatt (MW) waste heat recovery-based power plant, the statement said.
Announcing the plant earlier this month, managing director Parth Jindal said in a post on the X platform that the company would set up a new facility in Nagaur, its first in the northern part of the country.
"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," Jindal said.
The investment is expected to create more than 1,000 direct and indirect job opportunities, the company said.
At present, JSW Cement has a capacity of 19 million tonnes per annum with units in Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra.
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