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News Jaypee Power Ventures considering sale of Nigrie grinding plant

Jaypee Power Ventures considering sale of Nigrie grinding plant

Written by Global Cement staff 12 December 2022
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India: Jaypee Power Ventures' board of directors met on 12 December 2022 to discuss the possible sale of the company's Nigrie grinding plant in Madhya Pradesh. Press Trust of India News has reported that parent company Jaiprakash Jaypee Group's audit committee recommended the sale under proposed measures to reduce the group's debt. The producer had been in talks with Adani Group about the possible sale of its cement business, along with other non-core assets, for US$606m in October 2022.

Jaypee Power Ventures operates 4Mt/yr-worth of cement capacity, 40% of Jaypee Group's total 10Mt/yr.

Last modified on 14 December 2022
Published in Global Cement News
Tagged under
  • Jaiprakash Associates
  • Jaypee Group
  • Jaypee Power Ventures
  • grinding plant
  • Debts
  • Divestments
  • Audit
  • board
  • meeting
  • Sale
  • Finance
  • Adani Group
  • GCW587
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