JK Cement Limited, which is already working on two projects worth ₹700 crores, will spend another ₹500 crores to construct its third clinker grinding facility with 2.50 MTPA capacity in Prayagraj. The unit will be built over the next 12 months.
This will also bring the company’s overall investment in the state to ₹1200 crores.
JK Cement’s decision showed that the investment-friendly policies of the CM Yogi Adityanath government and the suitable environment it has created for investment in the state are bearing results.
To create a long-term roadmap for the company’s expansion in UP, the company’s deputy MD and CEO will attend the Uttar Pradesh Global Investors Summit 2023, which will take place from February 10 to 12 at Vrindavan Yojana, Lucknow.
Deputy MD and CEO of the company, Madhavkrishna Singhania, stated, “We are proud to be a part of this dynamic state that not only offers us a geographic advantage but also gives a plethora of opportunities for investment and expansion.”
“With its favourable business environment, abundant resources, and highly skilled workforce, Uttar Pradesh is undoubtedly an ideal location for our expansion plans. JK Cement is pleased to announce the setting up of its third clinker grinding unit, with a 2.50 MTPA capacity in the Prayagraj District,” he added.
“The project would cost ₹500 crores and should be finished in the upcoming year. This has helped JK Cement strengthen its presence in Eastern India,” Singhania further said.
Recently, the company opened its second facility in Hamirpur (Bundelkhand) for grinding grey cement. A Memorandum of Understanding (MoU) was signed with the Uttar Pradesh government last year that stated that the newly constructed unit in Hamirpur, which is now operational, has a proposed investment of ₹400 crore and a total production capacity of 2 million tonnes per annum (MTPA).
The first Greenfield Split Cement Grinding Unit was established in Aligarh with a 1.50 MTPA capacity and a ₹300 crore investment. All three of the greenfield grinding plants, with a combined investment of ₹1200 crore, will improve the state’s economy while also strengthening their position in UP and improving the livelihood of the communities by creating employment opportunities.
Along with setting up three plants, the company has also signed an MoU with IIT Kanpur to work together on the establishment of a super speciality hospital to be named after Yadupati Singhania, the company’s founder MD and former chairman.
As part of its corporate social responsibility (CSR), the company has agreed to support ‘Yadupati Singhania Memorial Super Specialty Hospital’ in Kanpur with funding of ₹60 crores. The hospital will be equipped with state-of-the-art facilities that will provide top-notch medical care to all.