Skip to main content

Reliance Infrastructure Ltd in advanced talks to sell its cement business

Published by
World Cement,

Reliance Infrastructure Ltd has announced that it is in advanced talks to sell its cement business for US$394 million and a deal could be announced this week.

The buyer would also take over the cement unit’s outstanding debt of 24 billion rupees under the terms of the deal, giving the business an enterprise value of 50 billion rupees.

Reliance Infrastructure’s cement unit has three plants with a total installed capacity of 5.8 million tpy. Another 5 million tpy cement manufacturing plant is being developed in western Maharashtra state.

A consortium, which includes some private equity firms, is likely to emerge as the successful bidder for the unit.

Edited from source by Joseph Green. Source: Reuters

Read the article online at:

You might also like

Using heat to help out

Luis Filipe von Rainer Fabiani and Tiago Guelfi de Freitas, Dynamis, highlight the features of a new Fluidised Hot Gas Generator, recently installed at Votorantim Cimentos’ Pecém plant.


Embed article link: (copy the HTML code below):