Displaying items by tag: JSW Cement

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.

India: Mamata Banerjee, the chief minister of West Bengal, has inaugurated JSW Cement’s plant at Salboni. The US$125m grinding plant has a production capacity of 2.4Mt/yr, according to the Press Trust of India. It started commercial production at the site in July 2017 with plans to manufacture Portland Slag Cement. The cement producer is already preparing upgrades at the unit including a US$15.6m captive power plant with a capacity of 18MW and a US$47m production capacity increase of 1.2Mt/yr.

India: JSW Cement plans to bid for Binani Cement. Managing director Parth Jindal said that the cement producer would partner with a private equity fund to make the offer, according to the Economic Times newspaper. He added that the company is looking for acquisitions in the cement sector. It has also made a bid for Kalyanpur Cement that has a cement production capacity of 1Mt/yr in Bihar. The company aims to reach a production capacity of 20Mt/yr by 2020.

India: Parth Jindal has been appointed as Managing Director of JSW Cement. He will assume the position in July 2016 and will be assisted by Anil Kumar Pillai as CEO, according the Business Line.

Jindal is the son of Sjjan Jindal, the chairman of JSW Group. The 25-year old has worked previous as an Economic Analyst for JSW Steel amongst other positions in the group. He is also the chief executive of the group's sport company, which owns Bangalore Football Club.