JSW Cement Secures $50 Million Green Loan from BNP Paribas for Capacity Expansion
- ByStartupStory | June 13, 2023
JSW Cement has entered into a loan agreement with the Indian division of French bank BNP Paribas to secure a debt capital of approximately $50 million or Rs 414 crore.
This marks JSW Cement’s second green debt capital, bringing the total sustainability-linked funding for the company to $100 million. The announcement was made through an official statement by the company.
With the aim of achieving its long-term goal of reaching a capacity of 50 million metric tons per annum (mtpa), JSW Cement intends to utilize the funds obtained for capacity expansion. The company’s Managing Director, Parth Jindal, revealed that this marks their second green loan, obtained within a span of six months.
Over the past eight years, JSW Cement has increased its production capacity by fourfold while managing to reduce carbon emission intensity by half. The recent acquisition of the green loan further emphasizes the company’s unwavering dedication to environmental, social, and governance (ESG) objectives.
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