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News ACC in talks to buy remaining cement business from Jaiprakash Associates

ACC in talks to buy remaining cement business from Jaiprakash Associates

Written by Global Cement staff 26 June 2018
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India: LafargeHolcim’s subsidiary ACC is in talks to buy Jaiprakash Associates’ remaining cement business. It plans to buy the production capacity of 5.5Mt/yr for US$763m by mid-2018, according to sources quoted by the Economic Times newspaper. Jaiprakash Associates is selling the last parts of its former cement assets to reduce its debts.

The proposed deal includes plants in central India with clinker production capacity of 4.4Mt/yr and a cement grinding capacity of about 3.3Mt/yr, the company's 74% stake in Bhilai Jaypee Cement, a joint venture with Steel Authority of India, and the Nigrie grinding plant.

Jaiprakash Associates previously agreed to sell three cement plants to Orient Cement in mid-2017 but this deal was cancelled after a delay of one year. Prior to this the company sold six integrated cement plants and five grinding plants to UltraTech Cement for US$2.5bn in 2017. Following the sale of its remaining cement assets, the company will primarily an engineering, procurement and construction contractor in road and hydroelectric power.

Last modified on 26 June 2018
Published in Global Cement News
Tagged under
  • India
  • ACC
  • LafargeHolcim
  • Jaiprakash Associates
  • Acquisition
  • Plant
  • GCW359

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