Vicat planning to purchase Bharathi Cement
Vicat, France, is in the advanced stages of buyout discussions with Bharathi Cement, India. The deal is said to be worth approximately US$ 200/t, and with Bharathi currently operating 2.5 million t capacity, would cost around US$ 500 million. Dalmia Cement, India Cement and Matrix Laboratories all have stakes in Bharathi Cement, while Jagan Mohan Reddy, a member of the Parliament of India, owns 69% of the company.
Increasing capacity
Bharathi Cement operates a facility in Nallalingayapalli village in Kadapa and has a long-term plan to set up 5 million t of capacity. This project is to be implemented in two phases – 2.5 million t has been commissioned for the first phase, with an investment of Rs 700 crore Bharathi expects to reach 5 million t in the third quarter of the year, totalling an investment of Rs 1420 crore.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/16042010/vicat_planning_to_purchase_bharathi_cement/
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