India: Irish building materials supplier CRH is considering acquiring Sree JayaJothi cements, part of Shriram Group, according to the Economic Times of India. CRH may purchase Sree JayaJothi cements through its joint-venture with MyHome Industries. The value of the deal is around US$250m.
Sree JayaJothi cements has a cement plant at Kurnool, Andhra Pradesh, with a clinker production capacity of 2Mt/yr and a cement production capacity of 3.2Mt/yr. Currently CRH has a cement production capacity of 3.2Mt/yr in India through a joint-venture.
In response to queries, Shriram confirmed to the Bombay Stock Exchange that it is discussion with potential investors including CRH.
