ACC to buy Jaiprakash Associates’ stake in cement JV with SAIL

ACC is likely to buy Jaiprakash Associates’ 74% stake in two separate cement joint ventures (JV) with state-owned steel maker Steel Authority of India (SAIL). In this regards, Holcim-owned ACC is in talks with the debt-ridden Jaiprakash for quite sometime and an announcement is likely to be made on March 24, 2014.

The two cement joint ventures with SAIL located at Bhilai (Chhattisgarh) and Bokaro (Jharkhand) with a total capacity of a little over 4 million tonnes per annum (mtpa).

ACC is India’s foremost manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.