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OUR BUREAU JSW Cement will invest $150 million (about ₹1,000 crore) to set up a 1 million tonne clinker unit and a captive power plant at Fujairah in the UAE. The clinker unit will be commissioned by December 2019.
The investment, which will be made through JSW Cement’s wholly-owned subsidiary JSW Cement FZE, will help it reach the targeted 20 mtpa capacity by 2020. The clinker unit will cater to JSW’s grinding units in coastal India.
It is expected to create 400-500 direct and indirect job opportunities, said the company in a statement on Thursday.
Its manufacturing units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal and Dolvi in Maharashtra use slag from steel manufacturing units to produce six mt of portland slag cement per annum.
Parth Jindal, Managing Director, JSW Cement, said the Fujairah unit will provide a strategic advantage to JSW Cement’s operations in India.
Sheikh Mohamed Bin Hamad Al Sharqi, Crown Prince of Fujairah, said the investment climate has improved in the region with a good regulatory ecosystem and top-notch infrastructure facilities for transport and logistics.
JSW Cement said it remains focussed on becoming a leading green cement player in India in terms of EBITDA per tonne.
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