JSW Cement plans to use the newly raised capital to fund its capacity expansions in line with its long-term target of achieving 50 MTPA cement-making capacity in India. BNP Paribas acted as the Mandated Lead Arranger and Bookrunner (MLAB) and the Sustainability Loan Coordinator for this transaction. DNV Business Assurance India (DNV) acted as the Second Party Opinion (“SPO”) provider. This transaction is among several milestones achieved on JSW Cement’s strategic direction on building a sustainable business.
Parth Jindal, Managing Director of JSW Cement, said, “This is our second Sustainability Linked Loan signed in the last few months. During the last eight years, we have grown our production capacity four times while reducing our carbon emission intensity by half. The SLL raised from BNP Paribas underscores our continued commitment to our ESG goals. The new capital will enable us to fund our capacity expansion with the long-term target of achieving 50 MTPA capacity. These capacity building plans will ensure availability of our high-quality green cement & building material products to our loyal consumers across the country.”
Recognising the importance of green capital as part of its business strategy to reduce carbon footprint, JSW Cement is pursuing the goal of creating a sustainable future for India through its Green cement portfolio. The SLL agreement signed with BNP Paribas is an important step in the Company’s Sustainability journey.