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News Sagar Cements completes sale of its investment in Vicat Sagar Cement

Sagar Cements completes sale of its investment in Vicat Sagar Cement

Written by Global Cement staff 08 September 2014
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India: Sagar Cements has completed the sale of its 47% stake in its joint venture company, Vicat Sagar Cement. Sagar had earlier obtained approval from the shareholders through postal ballot for the sale. Sagar and Vicat entered into the joint venture in June 2008 with the objective of setting up a 5.5Mt/yr cement plant in Gulbarga, Karnataka. The first phase of the plant, which was to reach a production capacity of 2.75Mt/yr, was completed in December 2012. Production commenced in January 2013.

Last modified on 10 September 2014
Published in Global Cement News
Tagged under
  • India
  • Sagar
  • Vicat Sagar Cement
  • Joint Venture
  • Acquisition
  • VICAT
  • GCW167

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