On January 2016, Kiran Global Chems Ltd, the flagship company of M S Jain Group, launched an environment friendly cement with patented technology under its brand name Geocement. It has a high life cycle and does not require water curing. In addition, the product also aims to attain maximum strength within seven hours. It uses slag, fly ash, and silica, that basically comes out as various industrial waste from other industries. The company is also focusing on investing around USD 28.64 Mn to establish manufacturing plants for this green cement. These plants were established in Tamil Nadu, Karnataka and Andhra Pradesh and is expected to produce 4 Mn tonnes of green cement per year in the next three years. The investment is made mostly from institutional borrowings and partly from internal accruals. The green cement segment revenue of the company is expected to stood at USD 286 Mn by the end of 2018-19. The company was founded in 1979 by Mr. MS Jain and has presence in India, UAE, Egypy, South Africa, Qatar, Malaysia and Saudi Arabia.
Launch of Geocement will facilitate the company to cut down construction time and reduce carbon dioxide emission. The product mainly finds application in the construction industry and revenue from this product is expected to rise owing to the increase in building and construction activities followed by increasing awareness towards green building concept. The company focuses on selling this product in bulk through e-commerce as part of its key distribution strategy with an objective to increase its foothold in the global green cement market. Though the product price is higher compared to ordinary cement, the company with this new addition aims to reduce the finished building cost by 10 %. In addition, the company also claims that the turnaround time will be 50 % faster. All these factors are expected to drive the demand of Geocement in the upcoming years.