Released November 19, 2019 | new delhi
en
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.
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.
