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News JSW Cement to acquire some India Cements assets

JSW Cement to acquire some India Cements assets

Written by Global Cement staff 10 October 2022
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India: JSW Cement is 'closing in' on an acquisition of some of India Cements' assets in Madhya Pradesh and Rajasthan. The Business Standard newspaper has reported that JSW Cement beat an offer by UltraTech Cement for the Rajasthan assets.

India Cements began construction of a new 3Mt/yr cement plant with a dedicated limestone mine in Madhya Pradesh in 2022. In May 2022, it announced that it was contemplating a land sale in order to reduce its debt. India Cements ended the 2022 financial year with debt of US$369m, up by 1.4% year-on-year from US$364m at the close of the 2021 financial year.

Last modified on 12 October 2022
Published in Global Cement News
Tagged under
  • India
  • JSW Cement
  • JSW Group
  • India Cements
  • Deal
  • offer
  • Rajasthan
  • Madhya Pradesh
  • Plant
  • mine
  • Debts
  • UltraTech Cement
  • Bid
  • Assets
  • GCW578

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