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UAE Freezones Biz News Updates
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JSW Cement to set up $150-mn clinker facility in UAE
JSW Cement today said it will invest nea rly 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 JSW Cement FZE, it said in a statement.
The company said its Fujairah plant will service its manufacturing units in
coastal India and is expected to create 400-500 direct and indirect job
opportunities.
It is also setting up a captive power plant to service the energy
requirements of the clinker unit.
“Through this investment we hope to contribute to the overall economic
development of Fujairah 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 leading producer of green
cement.
“We expect to commission the clinker unit by December 2019,” said Jindal.
Crown Prince of Fujairah Sheikh Mohamed Bin Hamad Al Sharqi said the
attractive environment, laws, regulations and the developed business
infrastructure for transportations and logistic facilities have contributed
in launching different investment projects in Fujairah.
JSW Cement 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.
July 19, 2018 |
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Courtesy The Hindu Business Line
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