Indian cement maker, JSW Cement Ltd, has presented a letter of intent to Petron Engineering for work on a new cement grinding plant in the state of Orissa.
According to a Petron release to the Bombay Stock Exchange, the letter of intent covers civil and structural engineering work on a 1.2 million tpy grinding plant at Jajpur in the east of Orissa. The contract has a value of INR600 million.
JSW Cement is a subsidiary of the diversified industrial JSW Group. In July, Parth Jindal, Managing Director of the company, told local newspaper, The Economic Times, that the company is targeting significant capacity expansion.
“In the next three years, of target is to go up to 10 million tpy,” Jindal said. “Thereafter, we will do an initial public offering, where we hope to raise funds to invest in increasing our capacity to 50 million t between 2020 and 2025.”
The Jajpur grinding unit will be supplied by a new 1.4 million tpy kiln at Rourkele, Jindal added.
Read the article online at: https://www.worldcement.com/indian-subcontinent/21082017/petron-awarded-civil-work-at-jajpur-grinding-plant/