Reliance Infrastructure is reportedly in advanced discussion to offload its cement business for Rs 2600 crore. The buyer will also take over the cement unit’s outstanding debt of Rs 2400 crore, giving the business an enterprise value of Rs 5000 crore.
The company’s cement unit has three plants with total installed capacity of 5.8 million tonnes per annum (MTPA). Another 5 MTPA cement manufacturing plant is being developed in western Maharashtra.
Reliance Infrastructure is the largest power distribution licensee in Mumbai, with 25 years license to distribute electricity in its licensed distribution areas spread over 400 Sq. Kms. in the suburbs and surrounding areas of Mumbai, and supplying power to around 29 lakh consumers.
