JSW Cement seeks funding for Fujairah plant ahead of January 2020 commissioning

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UAE: India-based JSW Cement has applied to borrow between US$50m and US$55m from two UAE-based banks to continue development on its planned 1Mt/yr integrated Fujairah plant, the capacity of which it plans to double to 2Mt/yr within a year of its scheduled January 2020 opening. Arabian Business has reported that the loan will bring the project’s total investment to US$110m with a 30:70 equity/debt ratio. The government has granted JSW Cement a 35-year quarry lease and a licence for the extraction of up to 6Mt/yr of limestone for use at the plant, which will be served by a Terex MPS 1200t/hr crushing plant.
550 local people directly or indirectly employed in cement production at Fujairah.

Last modified on 18 December 2019

URL: https://globalcement.com/news/item/10211-jsw-cement-seeks-funding-for-fujairah-plant-ahead-of-january-2020-commissioning

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