The Sajjan Jindal business said on Tuesday that JSW Cement will invest over Rs 3,000 crore to build a new cement production plant in Rajasthan's Nagaur district.
According to the firm, the investment consists of an 18 MW waste heat recovery-based power plant, a clinkerization unit with a capacity of up to 3.30 million tonnes per year, and a grinding unit with a capacity of up to 2.50 MTPA. These are manufacturing operations. The planned greenfield and integrated facility investment will be financed by long-term debt and equity.
JSW Cement is expected to gain additional clearances after obtaining certain legislative and regulatory permissions. According to a press release from the firm, the plant will signal its debut into the cement industry in North India and is anticipated to generate more than 1,000 direct and indirect employment.
One of the biggest investments we are making in Rajasthan with our cement company is this one. It sets JSW Cement firmly on the path of attaining, in the next few years, a pan-Indian footprint. Parth Jindal, managing director of JSW Cement, stated, "This would allow us to fulfill the increasing demands of our clients in the northern states of Rajasthan, Haryana, Punjab, and the NCR (National Capital Region).
JSW Cement CEO Nilesh Narwekar stated about the North India market, "These states are witnessing significant infrastructure and housing development and have one of the highest GDP growth rates." Being able to join this thriving building sector excites us much.
