JSW Cement secures funds for expansion plans

JSW Cement has secured a INR4000m (US$48.9m) sustainability-linked loan from MUFG Bank India to finance the company’s cement capacity expansion plans, according to The Economic Times. JSW aims to increase capacity from its existing 17Mta to around 25Mta by FY24-25.

This marks the third time JSW has sought funds in the last 15 months, have previously raised INR1000m from the State Bank of India in December 2021 and INR15,000m from Apollo Global and Synergy Metals Investments in July 2021.