Sagar Cements is reportedly in talks to buy Bangalore-headquartered BMM Cements as it looks to invest the money it made by cashing out of a joint venture with France’s Vicat. The development will underscore consolidation in the 130-million-tonne South Indian cement market, which accounts for more than a third of India's capacity of 360 MT.
BMM Cements, promoted by BMM Ispat Group, has a one-million-tonne capacity green-field cement facility, along with a 25 megawatt captive power project near Tadipatri in Anantapur district of Andhra Pradesh.
Further, Sagar Cements, which currently has a capacity of 2.75 million tonnes in Nalgonda district of Telangana, would look at facilities in South India that give access to Tamil Nadu, Karnataka and Maharashtra.
