JSW Cement, part of the JSW group, is aiming to produce 5.2 million tonnes of cement by the first quarter of 2011-12, J K Tandon, chairman, JSW Cement and director (projects), JSW Steel, said.
“The total project cost is Rs 1,960 crore with equity to debt ratio of 1:3. We have tied up the debt part of it with IDBI Bank,” Tandon said, adding, “Equity part of Rs 450 crore is currently being worked out.”
“We have got limestone mine in Andhra Pradesh and will produce 3.1 mt there, rest 2.1 mt will be produced at Vijayanagar in Karnataka,” Tandon said. The company is currently producing only 0.6 mt cement out of which 0.3 million is being used by the Vijayanagar steel plant of JSW Steel for internal capacity expansion. The rest is being marketed to cement makers.
JSW Cement is also on track for listing on stock markets. However, Tandon refused to divulge any details about the planned IPO.