JSW Cement to Invest $150mn in Fujairah
The ground-breaking ceremony for JSW Cement’s new clinker unit on Thursday was graced by Sheikh Mohammed bin Hamad Bin Mohammed Al Sharqi in Fujairah.
JSW Cement, India’s leading producer of green cement and part of $13 billion JSW Group, will invest nearly $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 the Year 2020.
The ground-breaking ceremony for JSW Cement’s new clinker unit on Thursday was graced by Sheikh Mohammed bin Hamad Bin Mohammed Al Sharqi in Fujairah. The ceremony was also attended by Mohamed Saeed Al Dhanhani – Director of Emiri Court in Fujairah, Salem Al Zahmi – Director of High Highness The Crown Prince of Fujairah, Mohamed Saif Al Afkham – CEO of Fujairah Natural Resources Department and General Director of Fujairah Municipality, Engineer Ali Qasim – Director of Fujairah Natural Resources Department, JSW Cement’s Management Team comprising. Parth Jindal – Managing Director, JSW Cement Ltd; Nilesh Narwekar – Director, JSW Cement FZE, Manoj Rustagi – Director, JSW Cement FZE, Narindar Singh – General Manager, JSW Cement FZE among others. The clinker unit in Fujairah will service JSW Cement’s manufacturing units in coastal India and is expected to create 400-500 direct & indirect job opportunities.
Parth Jindal, Managing Director – JSW Cement Ltd said that their 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, the company hopes to contribute to the overall economic development of Fujairah as well as create new direct and 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. The company expects to commission the clinker unit by December 2019, he said.
Sheikh Mohamed Bin Hamad Al Sharqi, Crown Prince of Fujairah said that the attractive environment, laws, regulations and the developed business infrastructure for transportations and logistic facilities have contributed in launching different investment projects in Fujairah. The guidance of Sheikh Hamad Bin Mohamed Al Sharqi, Member of the Supreme Council and Ruler of Fujairah, led Fujairah to focus on strategic projects’ investment in order to achieve UAE’s 2021 vision regarding ensuring a sustainable economy.
He added that Fujairah has successfully attracted investments to serve the national interests as well as development sustainability. Following the best policies and practices that lay emphasis on the international investment presence of Fujairah, and strength of UAE reputation on global indicators in the competitive economy field.
As the company grows and expands, JSW Cement remains focused on its goal to become a leading green cement player in India in terms of EBITDA per tonne. Thus, all business initiatives and investments 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 & manufacturing network, JSW Cement is currently well-equipped to service key markets across South, East & West India.