JSW Cement, India’s leading Green Cement company, has signed its First Sustainability Linked Loan of Rs 400 crore (US$ 50 million) with MUFG Bank India. The cement sector has been highly carbon intensive. JSW Cement recognises the role green capital can play in transitioning business operations to low carbon footprint.
With these funds deployed as a capital expenditure, the organisation aims to achieve its capacity target of 25 MTPA with increasing focus on sustainability.
MUFG Bank acted as the Mandated Lead Arranger and Bookrunner (MLAB) and the Sustainability Loan Coordinator for this transaction. DNV Business Assurance India (“DNV”) acted as the Second Party Opinion (“SPO”) provider. This transaction marks several milestones, including the first Sustainability Linked Loan for JSW Cement.