JSW to invest nearly $150 million in UAE to set up 1 mt cement unit

.
JSW Cement, part of the $13-billion (Rs 900 billion) JSW Group, will invest nearly $150 million in Fujairah, UAE, to set up a one million tonne clinker unit and a captive power plant. 

This will be made through its wholly-owned subsidiary, JSW Cement FZE. The new clinker unit is part of JSW Cement’s goal to achieve 20 mt annual capacity by 2020, from 10.3 mt now. 

The unit will service JSW Cement’s manufacturing units in coastal India and is expected to create 400-500 direct and indirect job opportunities.

Parth Jindal, managing director of JSW Cement, said, "We expect to commission the clinker unit by December 2019."

JSW entered the cement market in 2009. Its manufacturing facilities at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal and Dolvi in Maharashtra utilise slag from steel plants.


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel