My Home Industries, a 50:50 JV company of My Home group of Hyderabad and CRH Plc of Ireland, has acquired stake in Sree Jayajothi Cements from Shriram EPC for Rs 1,400 crore.
Through this acquisition, the company intends to expand the market for its 'Maha Shakthi' brand of cement in the South and East region of the country. It has about 5.2 million tpa of cement manufacturing capacity in Nalgonda, northern Andhra Pradesh. The company also operates 75 MW worth captive power plants, alternate fuel system by using pharmaceutical liquid wastes and has two ready mix concrete plants in Hyderabad.
Sree Jayajothi has a cement plant with 3.2 million tpa capacity in Kurnool, Andhra Pradesh.
Meanwhile, the JV company is targeting a capacity of 10-12 million tonnes over the next 2-3 years.