Skip to main content

JAL set to announce UltraTech deal

Published by
World Cement,


According to various sources, Jaiprakash Associates is likely to announce a definite deal to sell off its cement plants to UltraTech.

JP Associates is expected to sell plants with a capacity of 22.4 million t for Rs 16 500 crore, including its Bela and Sidhi cement units.

Earlier this year, UltraTech had announced the acquisition of JP Group’s cement plants for about Rs 17 000 crore.

The Mines and Mineral Development and Regulation (MMDR) Act will now allow transfer of mining rights, but still needs to be implemented.

JP Associates will first need to demerge its cement business and then sell it to UltraTech if the amendments are not passed in due time.


Edited from sources by Joseph Green. Sources: The Hindu Business Line, India Today, Money Control

Read the article online at: https://www.worldcement.com/indian-subcontinent/31032016/jal-set-announce-ultratech-deal-794/

You might also like

 

 WCT2021

WCT2021

At WCT2021 you will hear from a range of industry leaders and technical experts as they discuss the key challenges facing the cement industry and the latest solutions on offer. Register for free today »

 

CEMEX strengthens presence in Guatemala

The company has announced that, as part of its growth strategy, it will increase capacity in Guatemala with the construction of a new cement grinding mill that is expected to be completed in early 2023.

 
 

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