The India-based Jaypee Group is reportedly in talks with Heidelberg Cement and Sajjan Jindal-led JSW Cement, to form a joint venture which will control the majority of its cement plants as part of an ongoing exercise to reduce debt. According to India’s Economic Times (ET) newspaper, the plan envisages a separate joint venture entity which will house around 20-22 million tonnes of Jaypee's operational units spread across Uttar Pradesh, Himachal, Uttarakhand, Andhra Pradesh, Chattisgarh and a new greenfield
March 17, 2015
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RSSThe India-based Jaypee Group is reportedly in talks with 674 HeidelbergCement and Sajjan Jindal-led JSW Cement, to form a joint venture which will control the majority of its cement plants as part of an ongoing exercise to reduce debt.
According to India’s Economic Times (ET) newspaper, the plan envisages a separate joint venture entity which will house around 20-22 million tonnes of Jaypee's operational units spread across Uttar Pradesh, Himachal, Uttarakhand, Andhra Pradesh, Chattisgarh and a new greenfield unit in Karnataka, expected to come on stream this year, says the ET, quoting multiple sources in the know.
The rationale behind the exercise, said the people cited above, is to significantly bring down Jaypee's consolidated group net debt in one shot.
