Loan & Debt24 Jul 2026, 07:00 pm
JSW Cement Guarantees $29.24M Loan for UAE Subsidiary
AI Summary
JSW Cement Ltd has issued a corporate guarantee for a loan of USD 29.24 million (AED 107,400,000) to its wholly-owned subsidiary, JSW Cement Middle East L.L.C -SPC. The loan will fund the establishment of a 1.65 million tonnes per annum cement grinding unit in Fujairah, UAE. The guarantee is provided on an arm's length basis. The company states there is no immediate impact, except in the event the subsidiary defaults on repayment.
Key Highlights
- JSW Cement provides corporate guarantee for subsidiary's loan.
- Loan of $29.24M to fund new cement grinding unit in UAE.
- Transaction is on an arm's length basis.
- No immediate impact on JSW Cement unless subsidiary defaults.
Price Impact
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