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JSW ISPAT Steel to acquire cement grinding facility located at Maharashtra

22 May 2013 Evaluate

JSW ISPAT Steel has received an approval for the proposed acquisition of the cement grinding facility of Heidelberg Cement India which is located at Dolvi, Raigad district in state of Maharashtra, adjacent to the company’s steel plant. The acquisition is proposed by way of a ‘slump sale’ and shall be subject to obtaining necessary approvals and completion of due diligence. The board of directors at its meeting held on May 21, 2013 has approved for the same.

The cement grinding facility has an installed capacity of 0.60 MTPA and its acquisition would enable the company develop a stable outlet for evacuation of slag apart from creating additional grinding facility for consumption / disposal of slag.

JSW ISPAT Steel is one of the leading integrated steel makers and the largest private sector producer of hot rolled coils in India. The company has a capacity of 4.6 mt and is the leader in the national specialty steel market.

Peers
Company Name CMP
Tata Steel 214.45
JSW Steel 1277.70
SAIL 184.80
Jindal Stainless 755.10
APL Apollo Tubes 1948.80
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