JSW subsidiary Shiva Cement to invest over Rs 1,500 crore in new clinker project in Odisha
Project contracts awarded to Thyssenkrupp and L&T
BHUBANESHWAR: JSW Cement subsidiary Shiva Cement has announced that it will invest over Rs 1,500 crore in a 1.36 million tonne clinker unit project to be established in Sundergarh district of Odisha. It will fund this investment through a combination of long-term debt and equity. This project also includes setting up of a 1 MTPA grinding unit, 8 MW Waste heat recovery power plant, 4 MTPA crushing plants at its Dolomite and Limestone mines, 10 Km long Overland Belt Conveyor to transport limestone from the Mines to the manufacturing plant and own railway siding with 12 Km long railway track upto Sagra station to ensure seamless transportation of finished goods to the market. The design of the plant incorporates best technologies and will be most-modern and energy-efficient with waste heat recovery and co-processing unit using alternative fuels. The project was approved during the Company’s Board Meeting held last month.
Shiva Cement has already received some of the Regulatory and statutory approvals and is on track to obtain other necessary clearances. Once commissioned, this clinker unit will service JSW Cement’s manufacturing facilities across East Region and is expected to create around 500 direct & indirect job opportunities. Consequently, Shiva Cement is expected to become a strategic hub for JSW Cement’s operations in East region of India.
“JSW Group has long-standing relationships in the State of Odisha through our Cement, Infrastructure & Steel businesses. Shiva Cement’s plan to establish a new clinker unit further reaffirms our Group’s commitment to investments in the State. Through this investment we hope to contribute to the overall economic development of Odisha as well as create new direct and indirect job opportunities. The new clinker unit at Shiva Cement in Odisha will provide a strategic advantage to service the needs of our customers in the region and further strengthen JSW Cement’s leadership position in the Green Cement category in India. We expect to commission the clinker unit by the end of next fiscal” Parth Jindal, Managing Director of JSW Cement Ltd said.
Shiva Cement’s clinker project contracts have been awarded to Thyssenkrupp Industries India and Larsen & Toubro.