Heidelberg Cement has bagged its shareholders nod for raising funds up to Rs 2,000 crore through borrowings. At its annual general meeting on May 16, the shareholders had approved the proposal. The entity has decided to sell its 0.6 million tonnes per annum (mtpa) cement grinding facility in Raigad to JSW Group, which has a capacity to produce 5-mtpa cement in India.
With this initiative, the company sticks to the philosophy of divesting less strategic assets with lower margins to focus on more strategic and key operations in Central India. The company has decided to look at all organic and inorganic paths of growth.
