Orient Cement to acquire two cement businesses
Published by Jonathan Rowland,
Editor
World Cement,
CK Birla Group’s Orient Cement is to acquire cement business units from Jaypee Group and is seeks to expand its business in India. According to a filing on the Bombay Stock Exchange (BSE), Orient Cement will take a 74% stake in Bhilai Jaypee Cement Ltd (BJCL), as well as buying a complete cement-grinding unit in Nigrie, Madhya Pradesh.
BJCL has a cement production capacity of 2.2 million tpy and a clinker production capacity of 1.1 million t, according to the BSE filing. Orient Cement will pay INR 14.5 billion (US$224.8 million) in cash for the majority stake.
The Nigrie grinding plant has a total production capacity of 2 million tpy. The unit began operations in June 2015 and will be acquired by Orient Cement for a total consideration of INR 4.96 billion (US$76.9 million). The plant is currently part of Jaiprakash Power Ventures.
Read the article online at: https://www.worldcement.com/indian-subcontinent/01062017/orient-cement-to-acquire-two-cement-businesses/
You might also like
The World Cement Podcast - What's next for US Cement?
In this episode of the World Cement Podcast, we are joined by Mike Ireland, President and CEO of the ACA or American Cement Association. Listen in as Mike and David dive into a range of topics, including the ACA’s recent rebranding efforts, decarbonisation, policy and legislation, and the impact of AI on cement demand.
Tune in to the World Cement Podcast on your favourite podcast app today.
