UltraTech Cement could buy a fourth Jaiprakash plant
Published by Katherine Guenioui,
Editor
World Cement,
According to reports, UltraTech Cement and Jaiprakash Associates are close to a deal for the Bhilai cement plant in Chhattisgarh. The deal for the 2.2 million tpy cement plant is said to be worth between Rs.6 – 7 billion. The plant is part-owned by the Steel Authority of India Ltd, which must agree the deal before it can be confirmed.
In November last year, UltraTech declared its target of realising 100 million t of cement capacity within a decade. The company, owned by the Aditya Birla Group, has already acquired three cement plants from the Jaiprakash group, having agreed to buy two plants in December and the Gujarat plant earlier in 2014.
Jaiprakash Associates has been divesting cement assets to repay debt, which surpassed Rs.61 crore in FY14 – 15.
Edited from various sources by Katherine Guenioui
Sources:
Read the article online at: https://www.worldcement.com/asia-pacific-rim/28082015/ultratech-cement-could-buy-a-fourth-jaiprakash-plant-456/
You might also like
The World Cement Podcast - CCS in the UK
Dr Diana Casey, Executive Director of the Mineral Products Association joins the World Cement Podcast to explore the role of CCS in decarbonising UK cement industry.
Tune in to the World Cement Podcast on your favourite podcast app today.
