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News Orient Cement signs deal to buy cement plants from Jaiprakash Associates for US$302m

Orient Cement signs deal to buy cement plants from Jaiprakash Associates for US$302m

Written by Global Cement staff 01 June 2017
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India: Orient Cement has signed a deal with Jaiprakash Associates to buy three cement plants from it for US$302m. The arrangement, which was originally announced in October 2016, includes a deal to buy a 74% stake in Bhilai Jaypee Cement for US$225m and the acquisition of the Nigrie cement grinding plant in Singrauli, Madhya Pradesh from Jaiprakash Power Ventures for US$77m, according to the Hindu newspaper. Bhilai Jaypee Cement, a joint venture between Jaiprakash Associates and the Steel Authority of India Limited (SAIL), has a 2.2Mt/yr integrated Portland slag cement plant in Satna Madhya, Madhya Pradesh and a grinding plant in Bhilai, Chhattisgarh.

The transaction will be funded by Orient Cement through a mix of internal accruals, debt and equity funding. The acquisitions will increase Orient Cement’s production capacity to 10.2Mt/yr from 8Mt/yr and it will grant it access to the central and eastern regions of the country.

Last modified on 07 June 2017
Published in Global Cement News
Tagged under
  • India
  • Orient Cement
  • Jaiprakash Associates
  • Acquisition
  • Plant
  • grinding plant
  • Bhilai Jaypee Cement
  • Jaiprakash Power Ventures
  • Steel Authority of India
  • Madhya Pradesh
  • Chhattisgarh
  • GCW305

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