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JSW Steel acquires Raigad cement grinding unit

Monday, 07 Oct 2013

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JSW Steel has acquired Heidelberg Cement India's 0.6 million tpa cement grinding facility in Raigad, Maharashtra.

For this purpose, both the companies have signed the Business Transfer Agreements on October 5, 2013. The transaction will be consummated only after obtaining all necessary approvals required under applicable laws.

Heidelberg Cement had signed this deal as part of company's philosophy of "divesting less strategic assets with lower margins," which would enable it to "focus on more strategic and key operations" in Central India.

Heidelberg Cement had recently expanded its cement capacity from two million tpa to five million tpa.