JSW Cement has increased its production capacity four times in the past eight years.
JSW Cement plans to use the money to fund its capacity expansion in line with its long-term target of achieving 50 mtpa capacity
JSW Cement has signed a sustainability-linked loan agreement with the domestic arm of French lender BNP Paribas to raise USD 50 million or about Rs 414 crore in debt capital. This is JSW Cement’s second green debt capital taking the total sustainability-linked funding to USD 100 million now, the company said in a statement.
The company plans to use the money to fund its capacity expansion in line with its long-term target of achieving 50 mtpa capacity. According to Parth Jindal, the managing director of JSW Cement, the second green loan comes within six months of availing the first such loan.
He said the company has increased its production capacity four times in the past eight years, but has reduced the carbon emission intensity by half during this period and that the latest green loan underscores their continued commitment to Environmental, social and governance (ESG) goals.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)
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