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News Nuvoco Vistas’ acquisition of Vadraj Cement approved

Nuvoco Vistas’ acquisition of Vadraj Cement approved

Written by Global Cement staff 11 April 2025
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India: The Mumbai bench of the National Company Law Tribunal has approved Vadraj Cement’s acquisition by Nirma Group-owned cement producer Nuvoco Vistas. Gujarat-based Vadraj Cement, formerly owned by ABG Shipyard, has admitted liabilities of US$1.1bn, while Nuvoco Vistas proposes to pay US$209m to acquire the company through the bankruptcy process.

Vadraj Cement operates grinding units in Surat, with a total capacity of 6Mt/yr, and a clinker plant of 3.5Mt/yr in Kutch, which mostly supplies the grinding plants. All assets are located in the state of Gujarat. The acquisition will increase Nuvoco Vistas’ cement capacity to around 31Mt/yr, making it the fifth-largest cement producer in India by installed capacity.

Nuvoco Vistas won an auction for the business against other bidders, including JK Cement, JSW Cement, KIFS, RKG Fund and Orissa Metaliks.

Last modified on 16 April 2025
Published in Global Cement News
Tagged under
  • Nuvoco Vistas
  • Vadraj Cement
  • India
  • Asia
  • Acquisition
  • Nirma
  • GCW705
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