Displaying items by tag: JSW Cement

India: JSW Cement plans to invest over US$275m towards meeting its target production capacity of 20Mt/yr by 2020. Following this achievement it intends to launch an initial public officer (IPO), according to the Economic Times newspaper. The company aims to reach its capacity target through expansions and upgrades at its existing plants.

At present the cement producer has a capacity of 12.6Mt/yr. It will add 1.8Mt/yr at Dolvi, 1.8Mt/yr at Vijayanagar, 1.2Mt/yr at Jajpur in Odisha and 1.2Mt/yr in Salboni. Following the IPO it will build new capacity in Rajasthan and Chhattisgarh.

India: JSW Cement has completed a 1.2Mt/yr upgrade to its Dolvi plant in Maharashtra. The unit now has a cement production capacity of 2.2Mt/yr, according to the Hindu newspaper. The plant produces Portland Slag Cement (PSC) and Concreel HD, a high early strength cement product. The company is aiming to increase its production capacity to 20Mt/yr with a number of on-going expansion projects.

India: JSW Cement plans to increase the production capacity to 3.6Mt/yr at its Salboni grinding plant in West Bengal. The unit has a capacity of 2.4Mt/yr at present, according to the Economic Times newspaper. The cement producer plans to strengthen its presence in eastern India starting with West Bengal, Bihar, Odisha and Jharkhand. The plant manufactures Portland Slag Cement and it hopes to tap into local demand for this product with the upgrade.

India: JSW Cement is planning to target the north and north-east of the country after a proposed initial public offering (IPO) in 2020. The company is looking for acquisitions in the region to meet its production capacity target of 20Mt/yr by 2020, according to a company executive quoted by the Economic Times newspaper. The cement producer has purchased two limestone mines via auction at Nagaur in Rajasthan and one in Gujarat. It is also considering building new cement plants near the mines. The company has a production capacity is 12.8Mt/yr at present.

India: JSW Cement has started building a 1.2Mt/yr cement grinding plant at Kalinganagar Industrial Complex in the Jajpur district of Odisha. The unit will be used to produce Ordinary Portland Cement and ground granulated blast furnace slag (GGBS), according to Projects Today. The project had been on hold since 2016 due to issues with the land. The unit is expected to be operational by September 2020.

UAE: India’s JSW Cement plans to invest around US$150m in a new integrated 1Mt/yr plant in Fujairah. The project will also include a captive power plant, according to the Economic Times newspaper. The company expects to commission the new plant by December 2019. The project is part of the group’s target to reach a production capacpty of 20Mt/yr by 2020.

India: JSW Cement has inaugurated a 6.5km railway siding to its 2.4Mt/yr Salboni cement grinding plant in West Bengal. The railway siding will connect the unit to the main railway line between Godapiasal and Salboni, according to the Economic Times newspaper. The new connection is expected to reduce logistics costs at the site.

The rail yard at the plant has five lines running parallel and connected to each other. Two lines are designated for receiving raw materials, two lines are dedicated for cement loading and the fifth line is reserved for engine reversal. The plant initially intends to receive two rakes of raw materials per day and one rake per day of cement for despatch.

India: The Competition Commission of India (CCI) has dropped a complaint against JSW Cement concerning denial of supply of cement. The complaint was made by Kerala-based Ramachandran V, an authorised dealer of JSW Cement, according to the Economic Times newspaper. It was alleged that the cement producer had abused its market position by denying the dealer supply of cement in breach of an agreement. In an order dated in late February 2018 the CCI ruled that JSW Cement did not hold a dominant position in the local market. Subsequently the complaint of abuse of a dominant position was not relevant.

India: Binani Cement is back on the market after its liabilities were revised upwards, according to sources close to the deal. JSW Cement had previously emerged as the winner of a very competitive bidding process earlier in 2018 with an offer of US$919m. The creditors have now sought fresh bids from interested parties, which previously included LafargeHolcim, HeidelbergCement, Ramco Cement, UltraTech Cement, Dalmia Bharat and the Bain Piramal Resurgence Fund. The resolution professional, Deloitte Touche Tohmatsu India LLP partner Vijaykumar Iyer, has set a new deadline of 12 February 2018, extended from 5 February 2018.

The additional liability of around US$250m has emerged due to Binani Cement’s corporate guarantee for the acquisition of a fibreglass asset in Europe known as 3B in 2012 by group company Binani Industries. As one of the contacts close to the deal is reported to have said, ‘this is not a small amount.’

India: Binani Cement has received six bids in its sale process. Offers were received from UltraTech Cement, JSW Cement, Ramco Cement, HeidelbergCement India, Dalmia Cements and a pair of Indian investors, according to the Daily News & Analysis newspaper. The bids ranged from around US$630m to US$940m. However, each bid came with various clauses that made the committee of creditors refer them to a consultancy for evaluation.