JSW Cement, a part of $12 billion JSW Group, on Monday announced its foray into ready mix concrete (RMC) business under the brand name ''JSW Concrete''.
It has set up its first commercial RMC unit in Chembur, Mumbai and has plans to expand the business to other locations, JSW Cement said in a statement.
"The RMC business foray follows the green products ethos of JSW Cement and will launch unique eco-friendly concrete for use in various commercial construction projects," it said.
The RMC business foray is part of JSW Cement's strategy to offer the entire range of building material products to its customers, it said.
"This strategic business foray would augment the company's existing building materials portfolio comprising cement, construction chemicals and steel with concrete, thus elevating JSW Cement into the league of a handful of companies in India, offering complete building materials solutions under one roof," said JSW Cement.
Over the next five years, JSW Concrete plans to expand into the southern and western region of India.
"The addressable market for RMC in India is estimated to be approximately $2.4 billion and is expected to grow at a CAGR of 9 percent till FY25. This growth potential is largely driven by a government push for large infrastructure projects and a boom in housing construction," it said.
Its Chembur unit, with a capacity of 2 X 60 cubic meters per hour, will service the concrete requirements of construction projects in Central and South Mumbai.
Over the next 12 months, the Company plans to establish three additional units in Mumbai Metropolitan Region (MMR) covering Navi Mumbai, Thane & Western line, it added.
"JSW Cement will focus on setting up these RMC units to cater to the concrete requirement of big infrastructure & commercial projects as well as housing projects within the catchment zones of Mumbai," it said.
Commenting on the development, JSW Cement Chief Marketing Officer C L Sethunathan said: "With the brand strength of JSW Group and its pan-India presence, JSW Concrete will enable us to offer a credible product to our customers. Our RMC foray also enables JSW Cement to offer to our clients an integrated building material bouquet of offerings."