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Reliance Infra to handle ADAG’s cement business

22 Jul 2009 Evaluate

Reliance Infrastructure Ltd will undertake the cement business for the Anil Ambani group. Earlier, the responsibility was with group company Reliance Natural Resources Ltd. With a view to optimising internal synergies and consolidating all its infrastructure and related businesses under one roof, the group has decided that its cement business would now be implemented by Reliance Infrastructure.

 

Last week, another group company, Reliance Cementation, signed a memorandum of understanding (MoU) with the Maharashtra Government to set up a 5-million-tonne integrated cement plant in Yavatmal district with a grinding unit at Butibouri in Nagpur district, at an investment of Rs 2,250 crore.

 

Reliance Infrastructure has acquired a 51 per cent stake in Reliance Cementation Private Ltd from Reliance Natural Resources, thereby becoming a subsidiary of the company. The company is pursuing highway projects and plans to build a road project portfolio of over Rs 20,000 crore by 2012-13.

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