JSW Cement Eyeing Acquisition Of Stressed Assets
Boosted by a 63% volume growth in Q2FY19 as against an industry average of 22% in the markets it operates, JSW, which has already garnered a presence in South and West, also has manufacturing plants. It currently markets two variants of green cement products: JSW Cement Portland Slag Cement (PSC) and Concreel HD.
They expect development of 500 cities under the new Urban Development Mission and the initiative to build 100 smart cities to benefit cement & construction sectors. “The company views improving economic growth scenario, continued thrust on boosting India’s infrastructure sector and materialization of pent-up demand as primary drivers for cement consumption,” Nilesh Narwekar, CEO, JSW Cement said.
The company will then launch an IPO with a view to unlock the real value of the business,” he added. A part of this capacity expansion will be met through inorganic growth. The ongoing bad loan resolution process has opened up opportunities to acquire cement assets in India. JSW Cement views these strong assets of debt-laden companies to have a strong potential to grow while enabling swift scaling & optimization of these capacities, the statement said, adding that it will proactively explore these opportunities to scale up its capacities.
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