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NUVOCO Vistas emerge as Successful Resolution Applicant for Vadraj Cement insolvency

Published by , Editorial Assistant
World Cement,


Nuvoco Vistas Corp. Ltd., India’s fifth-largest cement group and a leading player in East India, has emerged as the SRA of Vadraj Cement Limited (VCL), currently undergoing Corporate Insolvency Resolution Process. The Resolution Plan submitted by Nuvoco has been approved by the Committee of Creditors (‘CoC’), and a Letter of Intent (LOI) has been issued.

The transaction will be implemented by Vanya Corporation Private Limited, a wholly owned subsidiary of Nuvoco Vistas Corp. Ltd. Nuvoco intends to fund the transaction without a significant rise in its consolidated debt levels. A phased investment will be spread over 15 months towards the refurbishment of assets and to drive operational improvements across the VCL plants. The estimated target date to commence production is around Q3 FY27, subject to the Hon’ble National Company Law Tribunal (NCLT) approvals for the Resolution Plan.

The Company anticipates significant benefits from this deal. The existing facilities include a 3.5 MMTPA (~10,000 TPD) clinker unit in Kutch, Gujarat, and a 6 MMTPA grinding unit in Surat, Gujarat.

Additionally, VCL owns high-quality limestone reserves, ensuring a consistent and sustainable supply of raw materials for future production. The captive jetty in Kutch further enhances logistical efficiency. With this transaction, Nuvoco’s total cement production capacity is set to increase to approx.. 31 MMTPA, distributed as 19 MMTPA in the East, 6 MMTPA in the North, and 6 MMTPA in the West, consolidating its position as the fifth-largest cement group in India for long-term.

The transaction, once consummated, is anticipated to foster substantial synergies with Nuvoco's existing manufacturing facilities in Nimbol and Chittorgarh, Rajasthan, enabling enhanced operational efficiency. This will drive logistics optimisation, streamline operations, and improve competitiveness, providing Nuvoco Vistas with better market access and a strengthened supply chain across key regions.

On this momentous occasion, Mr. Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd., commented, “This deal is a pivotal moment in Nuvoco’s journey, consolidating our position as the fifth-largest player in the Indian Cement Industry and further strengthening our market dominance. It complements our existing operations perfectly, expanding our geographic reach and operational capabilities. This strategic investment will enhance Nuvoco Vistas portfolio, diversify Nuvoco Vistas offerings and enable Nuvoco Vistas to deliver greater value and superior service to their customers in a competitive and dynamic business landscape.”


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Read the article online at: https://www.worldcement.com/indian-subcontinent/06012025/nuvoco-vistas-wins-as-successful-resolution-applicant-for-vadraj-cement-insolvency/

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