UAE: India-based JSW Cement has applied to borrow between US$50m and US$55m from two UAE-based banks to continue development on its planned 1Mt/yr integrated Fujairah plant, the capacity of which it plans to double to 2Mt/yr within a year of its scheduled January 2020 opening. Arabian Business has reported that the loan will bring the project’s total investment to US$110m with a 30:70 equity/debt ratio. The government has granted JSW Cement a 35-year quarry lease and a licence for the extraction of up to 6Mt/yr of limestone for use at the plant, which will be served by a Terex MPS 1200t/hr crushing plant.
550 local people directly or indirectly employed in cement production at Fujairah.
JSW Cement seeks funding for Fujairah plant ahead of January 2020 commissioning
Written by Global Cement staff
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