Advertise Here [728 W x 90 H pixels]
Construction : Deals | March 2014 | Source : Construction Update

Chettinad Cement gears up to buy Anjani Portland Cements

Chettinad Cement is a strong player in Tamil Nadu and has three integrated plants in Tamil Nadu at Puliyur, Karikkali and Ariyalur. The company boasts of an annual cement capacity of over 11.5 million tonne (mt) and aims to add about 15 mt by 2015.The company is in final stages of acquiring Andhra Pradesh based Anjani Portland Cements. The deal value is between Rs 360 crore to Rs 380 crore as per news reports. Motilal Oswal has acted as the advisor to the deal. The deal would give Chettinad Cement access to nearby Odisha market. The company is setting up one more cement plant at Kallur, Karnataka. Anjani Portland Cements currently has Rs 222 crore debt. The company has an integrated cement plant at Nalgonda, Andhra Pradesh with a capacity of 1.2 million tonnes per annum.
 
Advertise Here [728 W x 90 H pixels]