India: Local press has reported that a 'leading Indian conglomerate' may have concluded a deal to enter the cement industry in the union territory of Jammu and Kashmir. The Kashmir Monitor newspaper has reported the value of the deal as US$30.4m.
At present, the Jammu and Kashmiri cement sector is comprised of state-owned J&K Cements and five private companies. J&K Cements previously ceased production at its 400,000t/yr Khrew cement plant in Pulwama amid 'financial difficulties.' It has since sought a buyer for its business.
