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Sagar Cements To Acquire Satguru Cement & Jajpur Cements In A Phased Manner
2018-12-06 Merger and Acquisitions Building Materials National
Sagar Cements Limited (SCL) has informed that the board of directors of the company at its meeting approved a proposal to invest a sum of Rs.150 crores in Satguru Cement Private Limited (SCPL), Indore, Madhya Pradesh, to set-up a green field cement manufacturing plant of 1 million ton capacity along with waste heat recovery power plant at a total cost of Rs.426 crores. SCL will be holding 65% in the equity share capital of SCPL on completion of the above projects.
Similarly, the Board has also approved of a proposal In the said meeting to invest a sum of Rs.108.00 crores in Jajpur Cements Private Limited (JCPL), Jajpur, Odisha in a phased manner to acquire 100% shareholding In It and to set-up through It a green field grinding unit of 1.5 million ton capacity in Jajpur at a total cost of Rs.308.10 crores. This Investment is subject to approval from the Government of Odisha and other regulatory authorities as may be required.