The Gujarat operation under consideration consists of a 3.6 million tonne clinker plant at Kutch, in western Gujarat, with 2.4 million tonnes of cement grinding capacity and a further grinding plant in eastern Gujarat with capacity to produce 2.4 million tonnes a year.
The completion of any transaction would be subject to satisfactory due diligence, the approval of the respective boards of directors and the granting of the required regulatory approvals.
The Jaypee Group is a leading diversified infrastructure conglomerate based in Noida, India, and was founded by Jaiprakash Gaur in 1979. It has business interests in engineering and construction, power, cement, real estate, hospitality, expressways and sports and education.
Jaypee is the third largest cement producer in India with an annual capacity of 28.8 million tonnes/year, and it has a market capitalisation in excess of INR 166.4 billion (€2.45 billion) and turnover of more than INR 138.3 billion (€2.03 billion).
CRH entered the Indian market in 2008 through a joint venture with My Home Industries, a leading cement manufacturer in the south India State of Andhra Pradesh.
