JSW Cement, a subsidiary of JSW Group, is planning 100 percent acquisition of Odisha-based Shiva Cement.
Talks on the proposed transaction are likely to commence in a few weeks. In addition, JSW Cement is planning to expand its capacity from the present 8.76 million tpa to 17 million tpa by 2018.
Shiva Cement is spread over 70 acre of land adjacent to the state highway connecting Rourkela & Sambalpur. The company is carrying out Phase-I of its expansion of increasing the plant’s capacity to one million tpa from its present capacity of 0.132 million tpa.
The company has entered into a memorandum of understanding (MoU) with the state government to increase the capacity upto 2.6 million tpa in two phases.