JSW Cement, a subsidiary of the USD 24.25 billion JSW Group, announced its intention to invest roughly Rs 3,000 crore in establishing a new cement manufacturing facility in the Nagaur district of Rajasthan. A recent company statement highlighted the commencement of construction with a groundbreaking ceremony.
This investment by JSW Cement encompasses a clinkerization unit capable of producing up to 3.30 million tonnes per annum, a grinding unit with a capacity of up to 2.50 million tonnes per annum, and an 18 MW waste heat recovery power plant. Additionally, plans include the installation of an approximately 7 km Overland Belt Conveyor to transport limestone from mines to the manufacturing plant, along with provisions for using alternative fuels in the kiln.
JSW Cement plans to finance the proposed investment through a combination of equity and long-term debt, as per the company’s official statement. The company has already secured several regulatory and statutory approvals and is progressing towards obtaining remaining clearances. Once operational, this venture will mark JSW Cement’s debut in the northern India cement market.
The investment is anticipated to generate over 1,000 direct and indirect job opportunities, according to the company’s assertion. Parth Jindal, Managing Director of JSW Cement, described this as a significant investment for their cement business in Rajasthan, enabling them to cater to customer demands in Northern States like Rajasthan, Haryana, Punjab, and the NCR region.
Nilesh Narwekar, CEO of JSW Cement, noted that this investment signals their entry into the rapidly growing cement markets of North India, driven by high GDP growth rates and substantial infrastructure and housing development in the region. The company aims to deliver high-quality cement and exceptional customer service in these flourishing construction markets.
JSW Group, a prominent Indian conglomerate, has diverse business interests spanning steel, energy, maritime infrastructure, defence, B2B ecommerce, real estate, paints, sports, and venture capital. JSW Cement operates manufacturing units in various states and is involved in the entire building materials value chain, including cement, GGBS, concrete, and construction chemicals.