PATNA, Dec 20: JK Lakshmi Cement, a subsidiary of the JK Organisation, has announced an investment of Rs 500 crore to establish a manufacturing plant in Madhubani district, as stated by President and Director Arun Shukla during a recent event.
The company, part of the Bharat Hari Singhania family-led Rs 6,000 crore enterprise, has formalized a Memorandum of Understanding (MoU) with the Bihar government for the new manufacturing facility.
“We are investing Rs 500 crore to set up a cement plant in Madhubani, Bihar,” Shukla informed PTI on the sidelines of the Bihar Business Connect 2024 Summit.
He also mentioned that the MoU for this investment was signed with the Bihar government last year.
Shukla indicated that land acquisitions are complete, and the company is in the process of securing the necessary approvals to build the plant.
“Our goal is to meet the local demand from the Madhubani plant,” he added.
He praised the Bihar government for fulfilling its commitments, including providing fiscal incentives.
Currently, JK Lakshmi Cement boasts an annual production capacity of 18 million tonnes.
“We aim to increase this capacity to 30 million tonnes by 2030,” Shukla noted.
He confirmed that the expansion of an additional 12 million tonnes across various locations is progressing as planned.
Led by Bharat Hari Singhania, the JK Organisation operates manufacturing facilities overseas in countries such as Mexico, Indonesia, Romania, Belgium, Portugal, and the UAE. Its portfolio includes well-known brands like JK Tyre, JK Paper, JK Fenner, and Umang Dairies, alongside JK Lakshmi Cement.
Other leading cement manufacturers are also ramping up investments in Bihar, following the announcement of significant projects in the recent Union Budget for 2024-25.
The government has proposed an extensive budget of over Rs 60,000 crore for multiple initiatives in Bihar, which include funding for three expressways, a power plant, heritage corridors, new airports, and sports infrastructure.
Finance Minister Nirmala Sitharaman also highlighted the Centre’s backing for the development of three Expressway projects: Patna-Purnea, Buxar-Bhagalpur, and Bodhgaya-Rajgir-Vaishali-Darbhanga, along with an additional two-lane bridge over the Ganga River in Buxar.
The cumulative cost of these four projects is estimated at Rs 26,000 crore. (PTI)
