Ultratech Cement is in advance stage of negotiation with Jaypee Cement Corporation to acquire its 51% stake in the 5 mtpa Gujarat facility for about Rs 4,000 crore. Moreover, the deal is likely to happen in next 10-15 days.
The Jaypee Group is having interests in areas such as real estate, cement and hospitality and is the country’s third largest cement maker with an installed capacity of 33.5 mtpa. While, Aditya Birla Group, the country’s largest cement maker with 54 mtpa capacity, runs cement business through Ultratech Cement and plans to increase its capacity by another 10 mtpa by 2015.
UltraTech manufactures and markets Ordinary Portland Cement, Portland Blast Furnace Slag Cement and Portland Pozzalana Cement. The company has 11 integrated plants, one white cement plant, one clinkerisation plant in UAE, 15 grinding units 11 in India, 2 in UAE, one in Bahrain and Bangladesh each and five terminals, four in India and one in Sri Lanka.