JSW Cement to invest nearly US$150 million in Fujairah
Kolkata, July 19 (IBNS): JSW Cement, Indian producer of green cement and part of US$ 13 billion JSW Group, will invest nearly US$ 150 million in Fujairah, UAE.
The investment in Fujairah is aimed at setting-up 1 MTPA clinker unit and a captive power plant to service the energy requirements of the clinker unit.
This investment will be made through JSW Cement Ltd’s wholly-owned subsidiary, JSW Cement FZE.
The new clinker unit is part of the JSW Cement’s goal to achieve 20 MTPA capacity by Year 2020.
Commenting on the proposed investment in Fujairah, Parth Jindal, Managing Director – JSW Cement Ltd said, "Our plans to establish this clinker unit reaffirms JSW Group's commitment to stay invested in Fujairah. JSW Group has long-standing business relationships in UAE and specifically in Fujairah through our Infrastructure business. Through this investment we hope to contribute to the overall economic development of Fujairah as well as create new direct & indirect job opportunities. The clinker unit at Fujairah will provide a strategic advantage to JSW Cement's leadership position in India as a leading producer of green cement. We expect to commission the clinker unit by December 2019."
Sheikh Mohamed Bin Hamad Al Sharqi, Crown Prince of Fujairah stated, "The attractive environment, laws, regulations and the developed business infrastructure for transportations and logistic facilities have contributed in launching different investment projects in Fujairah."
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