Kumar Mangalam Birla’s UltraTech Cement, reportedly is in talks to buy cement assets from Jaiprakash Associates. The two companies are in discussions for projects including Jaiprakash’s Rewa cement-making complex in central India. Monetization of assets would help Jaiprakash pare debt, which has jumped more than fourfold in the last five years to Rs 611 billion ($10.3 billion).
UltraTech Cement, which in the previous year inked pact to buy a Jaiprakash cement unit based in Gujarat state, also is looking to purchase more cement plants domestically as well as abroad. Meanwhile, Jaiprakash is also seeking buyers for cement assets in Himachal Pradesh. The company owns two factories in the northern Indian state with a combined 3.5 million tonnes annual production capacity.
UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.
