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JSW Cement to set up $150-mln clinker facility in UAE

Press Trust of India  |  Mumbai 

today said it will invest nearly USD 150 million to set up a one-mtpa (million tonne per annum) clinker plant in Fujairah, UAE, which is expected to be ready by December 2019.

The facility is part of the company's plan to achieve 20 mtpa capacity by 2020. The investment will be made through JSW Cement's wholly-owned subsidiary FZE, it said in a statement.

The company said its plant will service its manufacturing units in coastal and is expected to create 400-500 direct and indirect job opportunities.

It is also setting up a captive power plant to service the of the clinker unit.

"Through this investment we hope to contribute to the overall economic development of as well as create new direct and indirect job opportunities," Parth Jindal, managing director, JSW Cement, was quoted as saying in the release.

He expects the new facility to provide a strategic advantage to the company's leadership position in the country as a of green

"We expect to commission the clinker unit by December 2019," said Jindal.

of Sheikh Mohamed Bin Hamad Al Sharqi said the attractive environment, laws, regulations and the developed for transportations and logistic facilities have contributed in launching different investment projects in Fujairah.

said all business initiatives are driven to achieve the targeted financial, production and sales growth position and list the company publicly in the next few years.

"Backed by a strong distribution and manufacturing network, JSW Cement is currently well-equipped to service key markets across south, east and west India,"it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 19 2018. 18:10 IST