BENGALURU, May 21 (Reuters) – India’s JSW Cement (JSWC.NS), opens new tab said on Tuesday it will invest around 30 billion rupees ($360.2 million) to set up a cement factory in the northern state of Rajasthan, in a bid to meet surging demand for the key construction material.
The investment comes at a time when Indian cement makers are ramping up production amid higher government spending in infrastructure and a healthy real estate market.
Market leader UltraTech Cement (ULTC.NS), opens new tab said last month that it will set aside $3.9 billion for ongoing capital expenditure over the next three years.
Source: REUTER
