UPGIS-23: JK Cement will invest Rs 1200 crore in Uttar Pradesh
Lucknow : Owing to the investment-friendly policies of the Yogi government and the suitable environment for investment in the state, JK Cement Limited will invest an additional Rs 500 crore in Uttar Pradesh to build a unit in Prayagraj over the course of the next 12 months. This brings the company’s overall investment in the state to Rs. 1200 crore.
It is noteworthy that the company is already working on two projects worth 700 crores in UP. 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,*Companies step forward to invest in state due to CM Yogi’s image and policies
*Will spend Rs 500 crores to construct its third clinker grinding facility with 2.50 MTPA capacity in Prayagraj
*JK Cement is already working on two projects worth Rs 700 crores in UP which will take place from February 10 to 12 at Vrindavan Yojana, Lucknow.
Team Yogi travelled to many countries and different states of India seeking investment on the instructions of CM Yogi, and they received positive feedback from investors. The investors are excited to make investments in the state and are looking forward to UPGIS.
Uttar Pradesh preferred investment destination
Deputy MD & 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. The project would cost Rs 500 crore and should be finished in the upcoming year. This has helped JK Cement strengthen its presence in Eastern India.
To invest a total of Rs 1200 crores
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 Rs 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 Rs 300 crore investment. All three of the greenfield grinding plants, with a combined investment of Rs 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.
Super specialty hospital to be se up at the cost of Rs 60 crore
Additionally, an MoU has also been signed with IIT Kanpur to work together on the establishment of a super specialty 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 Rs 60 crore. The hospital will be equipped with state-of-the-art facilities that will provide top-notch medical care to all.
