Shiva Cement to invest in new clinker project
Shiva Cement, the Odisha-based cement company, and a subsidiary of JSW Cement, India’s leading producer of green cement, will invest over Rs 1,500 crore in a 1.36 MT 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 up to 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.