Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Shiva Cement to invest over Rs 1,500 crore in new clinker project at Odisha

Posted On: 2020-11-25 02:21:25 (Time Zone: Arizona, USA)


Shiva Cement Limited, the Odisha-based cement company, and a subsidiary of JSW Cement Ltd, India's leading producer of green cement, 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.

Commenting on the new clinker project at Shiva Cement, Mr Parth Jindal, Managing Director of JSW Cement Ltd said, "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."

Shiva Cement's clinker project contracts have been awarded to Thyssenkrupp Industries India and Larsen & Toubro.

1. Thyssenkrupp has been contracted to design and supply a new state of the art 4,000 tonnes per day capacity Clinkerization unit

2. Larsen & Toubro has been awarded the contract for Civil, Mechanical & Refractory erection work of the new clinker unit at Shiva Cement.

For JSW Cement, the new clinker unit being established by Shiva Cement is part of its strategic roadmap to achieve 25 MTPA capacity by 2025, with a special focus on scaling up its presence in the Eastern region of India. JSW Cement remains focused on its goal to become a leading green cement player in India in terms of EBITDA per tonne. Thus, all business initiatives and investments are driven to achieve the targeted financial, production and sales growth position and list the company publicly in the next few years.

Shares of SHIVA CEMENT LTD. was last trading in BSE at Rs.14.94 as compared to the previous close of Rs. 14.23. The total number of shares traded during the day was 713951 in over 701 trades.

The stock hit an intraday high of Rs. 14.94 and intraday low of 14.25. The net turnover during the day was Rs. 10545254.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Zensar Technologies Ltd Board approves interim dividend of Rs. 1.20

SVP Global Ventures Limited announces Q3FY21 results

Josts Engineering Company Ltd board to consider stock split

Emerald Leasing Finance and Investment Company Limited board approves 42:19 rights issue

Mphasis Ltd Q3FY21 consolidated net profit jumps to Rs. 325.52 crore

Bliss GVS Pharma Ltd Q3FY21 consolidated net profit climbs to Rs. 25.55 crore

National Standard India Ltd Q3 net profit at Rs. 1.72 crore

Zensar Technologies Ltd posts Rs. 137.89 crore consolidated PAT in Q3FY21

Indian Energy Exchange Ltd board approves interim dividend of Rs. 2.50 for FY2020-21

AU Bank forays into Odisha with its branch launch in Bhubaneswar

Nakoda Group of Industries Ltd board approves 5:8 bonus issue

MCX reports consolidated PAT of Rs. 71.80 crore in Q3 FY2020-21

Supreme Petrochem Ltd posts jump in Q3FY21 PAT to Rs. 171.52 crore

Cyient Limited posts Rs. 95.4 crore consolidated PAT in Q3FY21

Indian Energy Exchange Ltd Q3FY21 consolidated net profit rises to Rs. 58.14 crore

Radio City Ad-volumes grow by 9% in Q3 FY21 as compared to same period previous year

National General Industries Limited has sold its steel casting unit

Advitiya Trade India Limited starts operations of Aluminum panel

SBI Card and Payment Services Ltd Q3FY21 net profit at Rs. 209.65 crore

Get Instant In-Principle Sanction on Kotak Digi Home Loans

Sangam India Ltd posts consolidated PAT of Rs. 7.43 crore in Q3FY21

South India Bank Ltd Q3FY21 loss at Rs. 91.62 crore

JK Tyre & Industries Ltd Q3FY21 consolidated PAT zooms to Rs. 224.09 crores

Neelamalai Agro Industries Ltd board approves buyback of 25,350 shares at Rs. 1600 per share

Manappuram Finance to raise Rs. 600 crore through private placement of NCDs

Bajaj Holdings & Investment Ltd Q3FY21 consolidated net profit climbs to Rs. 1149.58 crore

SRF Limited board declares interim dividend of Rs. 19

Bandhan Bank Limited - Key Highlights - Q3FY21

Cabinet approves the Investment Proposal of Rs. 5281.94 crore for 850 MW Ratle Hydro Power Project

Infosys named a Leader in the IDC MarketScape for Asia/Pacific Salesforce Implementation Services 2020 Vendor Assessment

IIFL Securities Ltd posts consolidated PAT of Rs. 50.58 crore in Q3

SRF Ltd Q3FY21 consolidated net profit at Rs. 324.73 crore

Genus Power Infrastructures Ltd Q3FY21 consolidated PAT zooms to Rs. 28.83 crore

Vardhman Textiles Ltd Q3FY21 consolidated PAT at Rs. 170.52 crore

Rajratan Global Wire Ltd to increase capacity of Rajratan Thailand

Everest Group names Persistent a Major Contender in its Salesforce Healthcare Services PEAK Matrix® Assessment 2021

JSPL Q3FY21 consolidated PAT jumps to Rs. 2254.66 crore

Kabra Extrusiontechnik Ltd Q3FY21 consolidated net profit at Rs. 5.80 crore

Bandhan Bank Ltd Q3FY21 net profit lower at Rs. 632.59 crore

Bajaj Auto Ltd Q3 FY2020-21 consolidated PAT jumps to Rs. 1716.26 crore

Asian Paints Ltd reports consolidated net profit of Rs. 1238.34 crore in Q3FY21

Ashoka Buildcon receives NOA for Solar Project on EPC Basis from NTPC

Indo Count Industries Ltd reports consolidated net profit of Rs. 92.92 crores in Q3 FY2020-21

Westlife Development Ltd posts Rs. 0.11 crore consolidated PAT in Q3FY21

Kajaria Ceramics Ltd board approves interim dividend of Rs. 10

Freshtrop Fruits Limited board to consider buyback proposal on Jan 28, 2021

Professor Peter Piot Joins the Board of Biocon Biologics Limited as an Independent Director

NALCO board to consider buyback proposal on Jan 27, 2021

Kajaria Ceramics Ltd Q3FY21 consolidated PAT rises to Rs. 118.94 crore

Apollo Tricoat Tubes Ltd Q3FY21 PAT surges to Rs. 37.89 crore



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020