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JK Cement plans to raise Rs 800 cr

Date: 12-07-2010

JK cement is raising debt of over Rs 800 crore to part finance setting up its first overseas plant in the Middle East. The proposed plant with annual capacity of 2 million tonne will require an investment of around Rs 1,400 crore which will be funded by bank loans and internal accruals.

 

The company has already purchased land for the plant in Fujairah, one of the seven emirates of UAE. JK Cement, which produces 7.5 million tonne a year, has manufacturing units in Rajasthan and Karnataka. It is the second largest producer of white cement in India. It exports white cement to UAE, South Africa, Nigeria, Bahrain, Tanzania, and Nepal.crackcrack