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FINANCIAL NEWS
India’s JK Cement to establish cement plant in UAE
14 Nov 2011
(MENAFN) India’s JK Cement said that it would establish a USD14.9 million cement plant in the UAE with a yearly output capacity of 0.6 million tons, reported Emirates 24/7.
The company added that the new plant would be located in the Fujairah Free Trade Zone in order to produce white cement; however, it would have the provision to produce grey cement.
It also said that Fujairah government would have a 10 percent stake in the plant, which would be established by the Indian firm’s local subsidiary JK Cement Works (Fujairah).
It is worth noting that the company canceled earlier plans to establish the plant with USD400 million for a 2.2 million tons per year.
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