10 January 2024

CMAN signs agreement with KMC to build new world-class lime factory in Northern India

CMAN has made a hugely significant move by signing the “Khimsar Agreement” with Khimsar Mine Corporation to build a modern lime factory in Khimsar, Rajasthan, only the first step towards becoming one of the largest lime producers in India.

Mr. Adisak Lowjun, Chief Executive Officer, Chememan Public Company Limited (“CMAN”), one of the world’s top ten lime producers under the brand “CHEMEMAN”, revealed that “CMAN signed the “Khimsar Agreement” with Khimsar Mine Corporation (“KMC”), a new Indian company owned by Mr. Dhananjai Singh and his family, to develop a world-class lime plant in Khimsar in the State of Rajasthan in India. With over 70% of India’s limestone reserves located in Rajasthan, CMAN has been searching for the right business deal there for a long time.”

Mr. Dhananjai Singh and his family own several limestone quarries around Khimsar. The group’s long-term plan is to develop high-quality assets and become one of the largest lime producers in India through KMC. Under the Khimsar Agreement, CMAN will design and engineer the lime plant and its infrastructure and oversee construction progress, including working with contractors and suppliers of production equipment and technology, to ensure timely project completion. Upon project completion, CMAN will perform the commercial and technical management of the new lime plant.

India’s economy is expected to grow between 6% - 8% annually over the next 20 years. Major industries, including iron and steel, construction, sugar, paper, and chemicals will grow rapidly, and lime demand will increase significantly, as it is a key raw material in many major industries. The first phase calls for the construction of a lime plant with 100,000 tons of annual quicklime capacity, and the long-term goal is to develop at least 500,000 tons of annual lime production capacity.

“CMAN is happy and looking forward to be KMC’s long-term partner to develop a leading lime business in India. The strategic move by CMAN, with its strong reputation, and commercial and technical experiences, and KMC, with its network of quarries and customers in the area, will create competitive advantages for KMC to achieve its goals.” Mr. Lowjun concluded.

Mr. Dhananjai Singh states that “CMAN and KMC will together develop this new lime production facility to be one of the finest in India in terms of quality, environmental friendliness, and safety. With its location being less than 10 kilometers away from multiple limestone quarries and the use of the latest production technologies, KMC will have highly competitive raw materials and production costs. KMC’s first lime plant is scheduled to start commercial operations in the second half of 2025. The plant will be designed to meet global green building standards that prioritize energy savings and will act as a key business pillar in Khimsar, Rajasthan.”