India: Shree Cement has denied that it is in talks to buy a majority stake in Shiva Cement describing media reports as ‘purely speculative.’ Local media had reported that Shree was considering buying Shiva for around US$0.22/share.
Shiva Cement has a 0.2Mt/yr cement plant near Rourkela in Sundergarh district in Odisha with on-going plans to upgrade the site to 1Mt/yr. The company also has captive limestone reserves in the area and produces both Sumangal