Binani Cement is in talks to acquire a cement firm in
Binani Cement managing director Vinod Juneja said the company had appointed investment bankers for the Turkish acquisition. Binani intends to expand its base in overseas markets before the domestic market is flooded with over capacity. According to Cement Manufacturers Association (CMA) estimates, the country’s cement manufacturers will add 50 million tonne to current production capacity of 220 million by December. This will create pressure on price of the commodity. The capacity will go up 330 million tonne in three years.
Binani also plans to spend about Rs 800 crore in next two years for setting up a 2.5-million-tonne per annum clinker plant in Gujarat. Currently, Binani’s key markets are Rajasthan where it has 15% market share, Haryana (9% market share),
| Company Name | CMP |
|---|---|
| Ultratech Cement | 11589.90 |
| Ambuja Cement | 445.05 |
| ACC | 1424.50 |
| Shree Cement | 24337.00 |
| Dalmia Bharat | 1968.40 |
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