India’s R-Infra to sell cement business to Birla Corp for INR 48bn

In India, Birla Corp will buy the cement business of Reliance Infrastructure (R-Infra) for INR 48 billion (€652.78 million/US$707.03 million). R-Infra will use proceeds from the sale to pare its debt, and it aims to be a debt-free company on completion of the deal by March 2017. Under the deal, Birla Corp will acquire the units of Reliance Cement at Kundangting, MP and Maihar. The deal values Reliance Cement at US$140 (€129.26) per tonne, as it has an installed capacity of almost 5.1 million tonnes/ye

February 5, 2016 Read time: 1 min

In India, Birla Corp will buy the cement business of Reliance Infrastructure (R-Infra) for INR 48 billion (€652.78 million/US$707.03 million).

R-Infra will use proceeds from the sale to pare its debt, and it aims to be a debt-free company on completion of the deal by March 2017.

Under the deal, Birla Corp will acquire the units of Reliance Cement at Kundangting, MP and Maihar. The deal values Reliance Cement at US$140 (€129.26) per tonne, as it has an installed capacity of almost 5.1 million tonnes/year.

Quarry Products

Minerals aid India’s fast-growing economy

An investment of over US$500 million in a new tyre plant is a signal that Indian company BKT intends to meet its ambitious global targets over the next few years.

It sees major growth coming in the mining and quarrying markets and is hoping that eventually 40-50% of its income will be from this business. The recent huge investment at its Bhuj, northern India plant (see separate story), is part of increasing spending in the nation, which is already the second largest user of aggregates behind China.