Pune – OCTOBER 11, 2022: JSW Cement, India’s leading Green cement company, plans to invest more than Rs 3,200 crore to establish an integrated greenfield cement manufacturing facility in Madhya Pradesh as well as a split grinding unit in Uttar Pradesh. The combined cement capacity across both these units will be 5 MTPA. The proposed investment includes an integrated cement plant with a 2.5 MTPA clinker capacity, 2.5 MTPA grinding capacity, a 15 MW Waste Heat Recovery System, a modern residential colony in Madhya Pradesh, and a 2.5 MTPA grinding unit in Uttar Pradesh.
JSW Cement recently acquired a 100% stake in Spring way Mining from India Cements Limited. This acquisition provides JSW Cement access to substantial limestone reserves of approx. 106 million tonnes, including a mining lease valid until 2065. The limestone mine is spread over approx. 500 hectares of land located in the Panna District of Madhya Pradesh. The company has secured most of the regulatory approvals for mining operations and is pursuing requisite approvals for setting up integrated cement manufacturing facilities. JSW Cement’s integrated manufacturing facility will be located adjacent to this mining reserve.
According to Mr. Parth Jindal, Managing Director of JSW Cement, “The acquisition of Spring way Mining from India Cements puts JSW Cement on its path to 50 MTPA capacity with a pan-India footprint. This strategic investment marks our entry into the highly attractive Central Indian market with a specific focus on servicing the prolific needs of customers in Madhya Pradesh and Uttar Pradesh. This is one of the biggest investments in India made through our cement business. I look forward to working with the Governments of Madhya Pradesh and Uttar Pradesh to contribute to their growth and create substantial employment opportunities in both these States. I thank Mr. N Srinivasan and his team at India Cements for the opportunity to acquire this asset despite it being a very competitive process.”
According to Mr. Narinder Singh Kahlon, Director of Finance & Commercial of JSW Cement, “This investment will mark our entry into the fast-growing and attractive cement markets in Uttar Pradesh and Madhya Pradesh. These States have one of the highest GDP growth rates and are witnessing significant infrastructure and housing development. We are very excited to be able to enter into this booming construction market and will aim to provide our customers with high-quality green cement and world-class customer service.”