Sagar Cements has acquired 100% equity holding in BMM Cements. With this, BMM Cements has now become a wholly-owned subsidiary of the company.
The company had earlier received final approval for the acquisition of 100% equity stake in BMM Cements, which owns a cement plant of 1 million tonne capacity per annum and a captive thermal power plant of 25 MW capacity in Gudipadu near Tadipatri Anantapur District in the state of Andhra Pradesh. The board of directors at their meeting held on October 17, 2014 had approved for the same.
Sagar Cements is one of the most modern mini cement plants in the state of Andhra Pradesh. The plant is based on Dry Process Rotary Kiln Technology that is used in ‘Standard Quality' cement companies.