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Dalmia acquires remaining stake in Bokaro Jaypee Cement

Published by , Editor - Hydrocarbon Engineering
World Cement,

According to local press reports, Dalmia Cement has purchased the remaining 26% stake in Bokaro Jaypee Cement Ltd (BoJCL) from Steel Authority of India Ltd (SAIL) for approximately Rs.234.56 crore. The stake was reportedly acquired through Shri Rangam Securities & Holdings, an indirect wholly owned subsidiary of Dalmia Cement.

At the same time, Dalmia has also completed the previously announced deal to buy Jaiprakash Associates' 74% share in the company for a price of around Rs.667.56 crore (BoJCL was formed as a 74:26 JV between Jaiprakash Associates and SAIL). With these transactions, BoJCL has become a wholly owned subsidiary of Dalmia Cement.

BoJCL, located in the state of Jharkhand in eastern India, has a cement production capacity of 2.1 million tpa. The acquisition will increase Dalmia Cement’s current installed cement capacity to 21 million tpa.

Edited from various sources by Rosalie Starling


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