Category: Uncategorized

PNB Commits ₹21,000 Crore to Drive Rajasthan’s Socio-Economic Growth

Jaipur, Rajasthan – In a significant move to accelerate the state’s development, Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan. This strategic partnership, part of the “Rising Rajasthan” initiative, will see PNB provide a substantial financial commitment of ₹21,000 crore to support various eligible projects across the state.

The agreement, formalized in the presence of key officials, aims to create a dedicated framework for financing key infrastructure and social welfare projects. PNB’s extensive branch network and digital capabilities are expected to be instrumental in driving financial inclusion and socio-economic progress in the region.

As a testament to its commitment, PNB’s leadership also distributed 2,000 loan sanction letters to women entrepreneurs at a self-help group loan ceremony. The bank is also encouraging Micro, Small, and Medium Enterprises (MSMEs) to leverage its digital platforms to access government schemes, further solidifying its role as a key partner in Rajasthan’s ambitious growth agenda.

JK Cement Commences Construction of ₹3,000 Crore Greenfield Plant in Jaisalmer

Jaisalmer, Rajasthan – Cement giant JK Cement Ltd. has officially begun work on a new greenfield cement plant in Jaisalmer, Rajasthan, marking a significant strategic expansion with a proposed capital investment of approximately ₹3,000 crore (approximately US$340 million). The project is a key step in strengthening the company’s pan-India presence and boosting its overall production capacity.

The state-of-the-art facility, spanning a 525-acre land parcel, is scheduled for commissioning by early 2027. Its strategic location provides easy access to abundant limestone reserves, ensuring long-term raw material security and supporting sustainable operations. The plant will also serve high-demand regional markets in Rajasthan, Gujarat, and Haryana.

In line with a commitment to corporate sustainability, the project will incorporate cutting-edge technology, including a waste heat recovery system, designed to enhance energy efficiency and reduce the company’s carbon footprint. The initiative is also poised to be a major catalyst for regional economic development, creating both direct and indirect employment opportunities and fostering skill development for the local community.

The new facility underscores JK Cement’s long-term vision to meet India’s growing infrastructure development needs, fueled by government initiatives, housing projects, and industrial expansion.