8MAY 2024JSW CEMENT TO INVEST RS. 3,000 CRORE FOR THEIR LATEST CEMENT FACTORYTATA MOTORS & BAJAJ FINANCE TO OFFER FINANCING OPTIONS FOR EV DEALERSJSW Cement, part of the $24.25-billion JSW Group, an-nounced plans on Tuesday to invest around 3,000 crore in establishing a cement manufacturing facility in Nagaur district, Rajasthan. The funding for the new fa-cility will be a mix of debt and equity.The facility will include a clinkerization unit with a capacity of up to 3.30 million tonnes per annum (MTPA) and a grinding unit with a capacity of up to 2.50 MTPA, according to a statement from JSW Cement. Addition-ally, the plant will feature an 18 MW waste heat recov-ery-based power generation system.The proposed investment is significant for JSW Ce-ment as it aims to achieve a pan-India footprint in the coming years. The new plant is expected to create over 1,000 direct and indirect job opportunities. It will also include a 7-kilometer overland belt conveyor for trans-porting limestone from the mines to the manufacturing plant, along with arrangements to use alternative fuel in the kiln.JSW Cement Managing Director Parth Jindal high-lighted the importance of this investment in Rajasthan, stating, "The proposed investment to establish our inte-grated cement facility in Nagaur puts JSW Cement firmly on its path to achieving a pan-India footprint within the next few years. The new capacity in this region will en-able us to service the prolific needs of our customers in the northern states of Rajasthan, Haryana, Punjab, and the NCR region."Tata Motors announced on Monday that its pas-senger vehicles and passenger electric mobility subsidiaries have partnered with Bajaj Finance to offer supply chain finance solutions to their respective dealers. Tata Motors Passenger Vehicles (TMPV) and Tata Passenger Electric Mobility (TPEM) have entered into a Memorandum of Understanding (MoU) with Bajaj Finance to facilitate dealer access to funding with min-imal collateral.This collaboration aims to leverage Bajaj Finance's extensive reach to provide enhanced financial sup-port to TMPV and TPEM dealers. Dhiman Gupta, CFO of TPEM and Director of TMPV emphasized that the partnership will strengthen dealer access to increased working capital."Through this financing program, we will arm TMPV and TPEM's authorized passenger and electric vehicle dealers with financial capital, which will enable them to seize the opportunities offered by a growing passenger vehicles market," stated Anup Saha, Deputy Managing Director of Bajaj Finance. He added that the partnership would not only benefit dealers but also contribute to the growth of the automotive industry in India. TOPSTORIES8MAY 2024
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