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Billionaire businessman eyes Lafarge's India business

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World Cement,

According to various sources, Billionaire businessman Ajay Piramal is eyeing Lafarge's India business.

Lafarge initiated plans to sell its entire Indian operations of 11 million tpy for an estimated US$1.5 billion to 2 billion.

Piramal is primed to place a bet on cement.

At the core of Piramal's investment thesis, say sources, is his belief that in the next 12-18 months, spending on infrastructure will pick up as India looks to bounce back on its 8% plus growth trajectory. The group already has legacy manufacturing expertise that can be exploited going forward.

Piramal is not looking to use Piramal Enterprises, the listed group flagship housing his healthcare, financial services and information management business for the Lafarge acquisition.

Edited from sources by Joseph Green. Sources: Economic Times, India Infoline, Deal Street Asia

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