Anjani Portland Cement to be taken over by India’s Chettinad Cement

Chettinad Cement Corporation will invest a total of more than INR 37.50 billion (€478.62 million/US$614.98 million) for project plans in Maharashtra, Andhra Pradesh and Karnataka.

The projects will be funded via a combination of debt and internal accruals.

The company will be investing INR 11 billion for a 3.5 million tonne integrated cement plant in Guntur district of Andhra Pradesh.

UltraTech Cement in India has agreed to buy 21.2 million tonnes/year of cement capacity from Jaiprakash Associates (flagship of the Jaypee Group) for INR 159 billion (€2.13 billion US$2.38 billion).

The deal covers cement plants in Andhra Pradesh, Madhya Pradesh, Himachal Pradesh, Uttar Pradesh and Uttarakhand, but not the 1.2 million tonnes/year plant in Karnataka originally considered. This takes about INR 6 billion off the previously estimated transaction size.

Some 4 million tonnes/year the 21.2

Reliance Cements will build a grinding unit in Gowribidanur and one manufacturing and a quarrying unit in Sedam in the Gulbarga district of southern India. The Sedam project will comprise a 3.6 million tonnes/year of clinker and an integrated 5.5 million tonnes/year of cement plant as well as a 75-megawatt power plant, with the project to cost US$427.49 million (INR 26 billion). The 3 million tonnes/year cement grinding unit in Gowribidanur will cost $113.45 million (INR 6.9 billion). in addition, Reliance