JSW Group, recently planned to complete expansion of its capacity to 17 million tons (MT) by April 2018 and has entered into a joint venture (JV) with an Australian firm Wagners, to launch and promote earth-friendly concrete (EFC) in India. The expansion includes 2.4 MT at Vijaynagar in Karnataka, 2.4 MT in West Bengal, and 1.2 MT each plants located at Dolvi in Maharashtra, Mangalore, and Orissa entailing an investment of Rs 2,700cr, Managing Director, Parth Jindal said, adding that overseas projects included a 1 MT facility at Fujairah in UAE, where work will start in March and likely to be completed in 18 months. JSW Cement has also entered into a JV with Wagners to launch EFC to India and the new venture, JSW-Wagners, will be a subsidiary of JSW Cement. JSW will hold 74% stake in the JV, while Wagners Group holding the rest. The JV will be operational by January 2017 and its focus will be to promote EFC and look to create a category for geopolymer-based cement in India. The product will be launched in South India in July next year.
📅Published on:
30 October 2016
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