Bidding War for Indian Cement Producer Emami Cement in High Gear, an Industrial Info Market Brief
Emami Cement, a subsidiary of Emami Group, is being sold to raise money to pare debt. The annual cement production capacity for Emami Cement is 8.3 million tonnes per year (Mt/yr). Emami Cement operates a 2.5-Mt/yr integrated plant at Risda in Chhattisgarh and a 2.5-Mt/yr grinding plant at Panagarh in West Bengal. It acquired a 0.-Mt/yr grinding plant at Bhabua, Bihar in September 2018. As a part of valuation mining leases in Chhattisgarh, Rajasthan and Andhra Pradesh are also being calculated.
The estimated cost for Emami Cement lies between $800 million and $1.2 billion. Earlier this week, LafargeHolcim and HeidelbergCement joined a bidding war for Emami Cement. Other potential bidders include Dalmia Cement, Ultratech, Shree Cement and Nirma, who have expressed interest at this stage.
